blackred Microcap Aadi Bioscience ( NASDAQ: AADI ) has plummeted ~36% following an announcement after Tuesday's market close that a phase 2 trial of Fyarro (nab-sirolimus), its candidate for solid tumors, is unlikely to meet the efficacy threshold for accelerated approval. A decision to halt the PRECISION1 trial was based on an analysis by an Independent Data Monitoring Committee. Aadi will continue to dose patients in two other phase 2 trials of nab-sirolimus for endometrioid-type endometrial cancer and neuroendocrine tumors.
The company is cutting its R&D staff by 80%, which will extend its cash runway until at least H2 2026. Aadi said it will focus its efforts on Fyarro for its approved indication, perivascular epithelioid cell tumors (PEComa), as well as conduct a comprehensive strategic review. More on Aadi Bioscience Aadi Bioscience, Inc.
(AADI) Q2 2024 Earnings Call Transcript Aadi Bioscience, Inc. 2024 Q2 - Results - Earnings Call Presentation Seeking Alpha’s Quant Rating on Aadi Bioscience Historical earnings data for Aadi Bioscience Financial information for Aadi Bioscience.
