Syndax Pharmaceuticals (SNDX) - Get Report shares dropped on Tuesday after results from a Phase 1 trial of its blood cancer medicine disappointed investors.
The trial showed that five of 31 patients, or 16%, in the trial had a complete remission or a complete remission with a partial hematologic recovery. That compares with Barclays’s expectation of a 30% complete response rate, Bloomberg reports.
Another five patients had a complete response with incomplete platelet recovery, and five more a complete response with incomplete hematologic recovery/morphologic leukemia-free state, Bloomberg said.
Syndax shares recently traded at $14.05, down 28%. That puts the stock down 19% for the past six months.
"Data reported today further support the potential for SNDX-5613 to induce clinically meaningful responses in patients with genetically defined acute leukemias," the company’s chief executive, Briggs Morrison, said in a statement.
"Notably, robust clinical activity, including multiple complete responses with no evidence of minimal residual disease, were observed in heavily pretreated MLLr and NPM1c patients.”
Further, “We have identified a candidate recommended Phase 2 dose (RP2D) and expect to commence the pivotal Phase 2 portion of the trial by the end of the second quarter," he said.
https://www.thestreet.com/investing/syndax-blood-cancer-trial-disappoints-investors
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