Ryvu Therapeutics updates on RVU120 Phase II program

Poland-based drug developer Ryvu Therapeutics (WSE: RVU), a clinical-stage drug discovery biotech, yesterday provided an update on clinical progress and data in the Phase II programRVU120, its fully-owned first-in-class dual CDK8/19 inhibitor, currently being developed to treat hematologic malignancies.

Paweł Przewięźlikowski, co-founder and chief executive of Ryvu Therapeutics said: 2024 has been transformative forRVU120development plan in hematologic malignancies, marked by activating over 100 clinical sites across Europe and North America. By the year-end, we expect to enroll almost 100 patients across all four Phase II studies launched this year, demonstrating the scale and efficiency of our global clinical efforts. This progress aligns with the budget we planned back in 2023. As we enter 2025, we are poised to carry strong enrollment momentum and the ambition to generate informative efficacy readouts in the coming months.”

However, it seems investors were not impressed, sending the stock down 15% by close on Thursday and a further 6% to 38.95 zloty this morning.