Join our daily newsletter At The Bell to receive exclusive market insights
- Cynata Therapeutics (CYP) completes a strategic review of its clinical development pipeline to maximise commercial opportunities
- As a result, it will conclude the current MEND respiratory distress clinical trial as COVID-19 patients admitted to ICU eases
- The MEND trial aimed to treat COVID-19 patients, but the uptake of vaccine and new antiviral drugs has resulted in insufficient levels of patient recruitment
- CYP will now prioritise resources towards its Phase Three osteoarthritis trial, Phase Two diabetic foot ulcer trial, and its Phase Two acute graft-versus-host disease trial
- Shares in the company are trading at 43 cents at 11:52 am AEST
Cynata Therapeutics (CYP) has completed a strategic review of its clinical development pipeline to maximise commercial opportunities.
As a result, it will conclude the current MEND respiratory distress clinical trial as COVID-19 patients admitted to ICU eases.
The MEND trial aimed to treat COVID-19 patients, but the uptake of vaccine and new antiviral drugs has resulted in insufficient levels of patient recruitment.
CEO Dr Ross Macdonald said the MEND trial has been operating under a fast-moving landscape.
“Our strategic portfolio review was intended to ensure that we focus the application of resources on only the most viable opportunities and continuing to pursue the MEND trial no longer had alignment with that goal,” he said.
“The decision allows us to refocus our resources on, and maintain our commitment to, our other promising clinical programs.”
The company has now decided to prioritise resources towards its Phase Three osteoarthritis trial, Phase Two diabetic foot ulcer (DFU) trial, and its Phase Two acute graft-versus-host disease (aGvHD) trial.
Shares in the company were trading at 43 cents at 11:52 am AEST.
