Microcap cancer player goes belly up after pancreatic tumor hopeful flops key study
TYME Technologies’ SM-88 has been pulled from a Phase II/III study after a clinical trial sponsor clued the biotech in on an expected failure for futility against standard-of-care chemo in patients with metastatic pancreatic cancer, the company said Wednesday.
Through the Pancreatic Cancer Action Network, TYME said a combination of SM-88 — a modified tyrosine derivative the company believes breaks down tumors’ metabolic processes — and a regimen known as MPS was expected to underperform chemo in terms of extending patients’ lives. The study tested that combo against chemo regimens including gemcitabine and Abraxane or modified FOLFIRINOX.
TYME CEO Richie Cunningham had this to say in a statement:
Given pancreatic cancer’s high mortality rate, we wanted to make a difference in the lives of these patients. Our team understood that many efforts before us have failed, but based on SM-88’s prior activity and safety profile, we were hopeful we could provide an effective new option for those fighting against this devastating disease.
For tiny TYME, the results were disastrous. Shares in $TYME were trading down nearly 41% at the opening bell. The company was already well within the microcap range before the news.
The biotech said it still plans to pursue clinical development for SM-88 despite the flop, saying that preclinical data point to some potential benefit in a range of cancer types.