VBL shares obliterated by ovarian cancer failure

20 July 2022

Israeli-American company VBL Therapeutics (Nasdaq:VBLT) was trading 79% lower in Wednesday’s pre-market activity.

VBL, which is developing targeted medicines for cancer and immune-inflammatory diseases, announced disappointing top-line data from the Phase III OVAL trial of ofra-vec (ofranergene obadenovec; VB-111) in platinum-resistant ovarian cancer.

"We plan to discontinue the OVAL trial and will review the data from our ongoing Phase II trials in metastatic colorectal cancer and recurrent glioblastoma multiforme to determine next steps with the ofra-vec program"The trial did not meet the primary endpoints of achieving a statistically-significant improvement in progression-free survival (PFS) or overall survival (OS).

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