By Katherine Hamilton
Lisata Therapeutics shares dropped after a pancreatic cancer treatment trial didn't show significant improvement in patient survival.
The stock fell 32% to $2.64 on Wednesday, losing all its gains over the past month.
The Phase 2 trial studied the efficacy of certepetide as a treatment for pancreatic cancer. There was no significant improvement in median progression-free survival, which was five and a half months for both treated and placebo groups, the company said.
Preliminary results did show treated patients survived about 12.7 months compared with 9.7 months in the placebo group.
Lisata plans to advance certepetide development to Phase 3 in 2026, it said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
January 22, 2025 13:58 ET (18:58 GMT)
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