Oct 28 (Reuters) – Geron said on Wednesday it would halt a late-stage trial of its treatment for a rare blood cancer, sending the drugmaker’s shares down 9% in premarket trading.
The drug, branded as Rytelo, was being evaluated as a treatment for myelofibrosis, a rare type of blood cancer in which scar tissue gradually builds up in the bone marrow.
Geron said it made the decision following an independent data monitoring committee’s recommendation that the trial was unlikely to achieve its main goal of overall survival, compared to the best available therapy.
Geron said a detailed analysis of the data will be conducted, and study findings will be shared at a future date.
The trial enrolled 327 patients with high-risk myelofibrosis whose disease had returned or failed to respond after treatment with a JAK inhibitor, a type of drug used to manage symptoms and reduce spleen enlargement.
“As we fully analyze the data from the IMpactMF trial, we remain committed to growing Rytelo demand in the US and broadening access to eligible patients outside the US,” CEO Harout Semerjian said.
Rytelo received US approval in 2024 for treating transfusion-dependent anemia in patients with lower-risk myelodysplastic syndromes (MDS), a group of blood cancers.
The drug, Geron’s only commercial product, competes with Bristol Myers Squibb’s Reblozyl. In the second quarter, Rytelo brought in $57.5 million in revenue.
(Reporting by Christy Santhosh in Bengaluru; Editing by Maju Samuel)
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