Monopar Therapeutics (NASDAQ:MNPR) stock is taking a beating on Tuesday after the company revealed lackluster clinical trial results.
These results come from the company’s Validive Phase 2b/3 VOICE trial. This covers the prevention of severe oral mucositis in patients getting chemoradiotherapy to treat their oropharyngeal cancer.
The bad news here is that interim results from the trial show it failed to meet its primary endpoint. As a result, Monopar Therapeutics is discontinuing the study as well as “active development of Validive.”
Chandler Robinson, CEO of Monopar Therapeutics, said the following about the clinical trial results:
“While we are disappointed with the outcome of this study, we are now focused on re-deploying the financial and human resources previously dedicated to Validive in order to advance our Phase 1b camsirubicin clinical trial and our MNPR-101 radiopharmaceutical program partnered with NorthStar Medical Radioisotopes.”
How This Affects MNPR Stock
Investors aren’t reacting well to the poor clinical trial results today. This has MNPR stock seeing heavy trading volume. That has some 102,000 shares changing hands as of this writing. For the record, the company’s daily average trading volume is closer to 22,000 shares.
MNPR stock is down 46.8% in pre-market trading on Tuesday!
Investors can find more of the latest stock market news 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.
