koto_feja/E+ via Getty Images G1 Therapeutics ( NASDAQ: GTHX ) fell ~7% premarket Tuesday after announcing that its Phase 3 PRESERVE 2 trial for its experimental breast cancer therapy trilaciclib did not reach its main goal related to patients’ overall survival. In PRESERVE 2, trilaciclib, which G1 ( GTHX ) markets as Cosela, indicated a median overall survival of 17.4 months before the administration of chemotherapy (gemcitabine and carboplatin; GCb) compared to 17.
8 months in the control arm. The company said there was no statistically significant effect on the intent-to-treat population and added that in the wake of the setback, it would discontinue the program and focus its R&D efforts on extensive-stage small-cell lung cancer. The study for patients with metastatic triple-negative breast cancer (mTNBC) was designed to evaluate trilaciclib administered before GCb.
G1 ( GTHX ) has also paused hiring and decided not to invest in research efforts targeted at first-line triple-negative breast cancer. The cost-saving measures are expected to provide cash runway until H2 2025 to achieve profitability, GTHX added. Despite the setback, the company reiterated its full-year guidance of $60M–$70M for Cosela net revenue.
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