Kintara Therapeutics Inc (NASDAQ:KTRA) Stocks Sees Selling Pressure After The Gain: Now What?

Kintara Therapeutics Inc (NASDAQ:KTRA) stock went up slightly on Thursday after the news. However, the stock is down 8.50% in the pre-market session. The stock has gained 45% over the past month.

Market Action

On Thursday, KTRA stock jumped 1.32% to $2.30 with more than 21.24 million shares, compared to its average volume of 909K shares. The stock has moved within a range of $2.0100 – 2.8500 after opening the trade at $2.52.

Major Trigger:

Kintara Reports Topline Results From Phase 2 Clinical Trial of VAL-083 for Recurrent GBM

Key Highlights:

  • Kintara Therapeutics announced topline data results from the recurrent arm of its open-label, Phase 2 clinical study of its lead compound VAL-083 being conducted at the MD Anderson Cancer Center (MD Anderson) in Houston, Texas.
  • The Phase 2 trial is a two-arm, biomarker-driven study testing VAL-083 in glioblastoma multiforme (GBM) patients who have an unmethylated promoter of the methylguanine DNA-methyltransferase (MGMT) gene. The recurrent arm of the study addressed patients who have been pre-treated with temozolomide prior to disease recurrence.
  • The recurrent arm of the trial enrolled 89 patients, with 35 patients (35 efficacy evaluable) initially receiving a dose of VAL-083 at 40 mg/m2/day, and 54 patients (48 efficacy evaluable) initially receiving the treatment dose of 30 mg/m2/day on days 1, 2 and 3 of a 21-day cycle. This 30 mg dose corresponds to the dose being studied in the recently initiated and currently enrolling VAL-083 study arm of the GBM AGILE study.

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