BioNTech on track for worst day since March after ending colorectal cancer trial
BNTX•Reason for ending the study and other pipeline updates
The trial failure prompted some brokerages to lower their price targets on BioNTech's stock.
BioNTech said independent monitors found a numerical imbalance in overall survival between patients receiving the treatment and those under watchful waiting, and concluded that continuing the trial was unlikely to change the outcome.
The company did not disclose which group had worse survival, but said no new safety concerns were found.
BioNTech said a separate trial testing the treatment with other cancer medicines in pancreatic cancer will continue as planned. The treatment is being jointly developed with Roche's ROPC.S Genentech unit.
Including the session's moves, BNTX was up about 8% year to date.
Shares fall after colorectal cancer trial is terminated
U.S.-listed shares of German drugmaker BioNTech BNTX.O 22UAy.DE fell 7.4% to $103.07, putting the stock on course for its worst day since March if losses hold.
Shares of fellow mRNA drugmaker Moderna MRNA.O fell 4.3% to $136.68.
The company terminated a mid-stage trial of its experimental personalized mRNA treatment autogene cevumeran in patients with high-risk colorectal cancer who had undergone surgery.
