Tocagen On The Rocks With Phase III Brain Cancer Study Failure
The firm’s stock crashed on news that its Toca 511/Toca FC regimen did not show an overall survival benefit or meet any secondary endpoints in a Phase III study in recurrent high-grade glioma.
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Forte Biosciences’ attempts to use a new approach to treating inflammatory skin disease using a topical live biotherapeutic, FB-401, have come to a crashing halt at Phase II. Where the company goes next remains to be seen.
Deal Snapshot: Forte finds a route to the public markets to support moving its atopic dermatitis drug into Phase II; most of Tocagen’s assets will be sold off.
BioNTech's $150m offering, after a prior large venture capital financing, gives it the third-largest market cap for a newly public drug developer in the US. Also, Innovent raises $300m in Hong Kong offering, Heron leads US follow-ons and Five Prime restructures to save $20m annually.