Mural Oncology (MURA) said Tuesday it will stop the development of nemvaleukin alfa for platinum-resistant ovarian cancer as it believes a phase 3 trial of the drug combined with Merck's (MRK) Keytruda is "highly unlikely to achieve success" at the final analysis.
Shares of Mural slumped 59% following an increase in intraday trading volume to over 3.52 million from a daily average of about 156,000.
Cassava Sciences (SAVA) said that topline results from its phase 3 REFOCUS-ALZ study of simufilam showed no treatment benefit for patients with mild-to-moderate Alzheimer's disease.
The biotech company said the results did not meet the co-primary, secondary, and exploratory biomarker endpoints.
Shares sank 33%, with intraday trading volume rising to over 13.8 million versus a daily average of about 1.96 million.
Price: 1.53, Change: -2.30, Percent Change: -60.05
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.