Why Is G1 Therapeutics (GTHX) Stock Down 52% Today?

  • G1 Therapeutics (GTHX) stock is falling Monday following clinical trial results.
  • The company is discontinuing a Phase 3 clinical trial.
  • That brings with it heavy trading of GTHX stock today.
DNA strand and Cancer Cell Oncology Research Concept 3D rendering. GTHX Stock

Source: CI Photos / Shutterstock.com

G1 Therapeutics (NASDAQ:GTHX) stock is falling on Monday after the company released results from a Phase 3 clinical trial.

The bad news bringing GTHX stock down today is the company choosing to discontinue the colorectal (CRC) trial. This follows early anti-tumor efficacy data from the trial favoring the “placebo arm.”

It’s worth pointing out that this decision comes despite the clinical trial meeting its co-primary endpoints. However, the data suggests its unlikely to meet the “progression-free survival (PFS) and overall survival (OS) endpoints.”

CEO Jack Bailey had the following to say:

“All of us at G1 are disappointed in this surprising outcome for patients with CRC, but we remain committed to the potential of trilaciclib to impact the lives of many cancer patients in other indications […] We are increasingly encouraged by the real-world performance of trilaciclib in patients with extensive stage small cell lung cancer and look forward to upcoming readouts in our other ongoing trials.”

GTHX Stock Movement Today

With today’s latest clinical trial news comes heavy trading of GTHX stock. As of this writing, more than 2 million shares have changed hands. That’s well above the daily average trading volume of 1.1 million shares as investors sell the stock.

GTHX stock is down 51.5% as of Monday morning.

Investors looking for more of the latest stock market news on Monday will want to keep reading!

InvestorPlace is home to all of the hottest stock market news traders need to know about on Monday! A few examples include why shares of Vallon Pharmaceuticals (NASDAQ:VLON) and EBET (NASDAQ:EBET) stock are rising, as well as the biggest pre-market stock movers this morning. We’ve got all that news ready to go at the links below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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