NewLink Genetics Corp (NASDAQ:NLNK) shares fell by 26% amid the decision of the company to continue the third phase of a study involving the pancreatic cancer treatment drug. Having already missed out on the targeted completion time of the study, the announcement by NewLink Genetics has made the Wall Street analysts skeptical about the progress of the study. The clinical trial of the algenpantucel-L drug called IMPRESS will go on without any change, according to an official statement issued by the company.
NewLink Genetics, Managing Director, President and Chief Medical Officer, Nicholas N. Vahanian said that the company was eagerly waiting to finish the study. This trial promised to be a breakthrough in the treatment of the pancreatic cancer. He was optimistic that this drug had the potential to become the foremost drug for treating the cancer that the U.S. Food and Drug Administration (FDA) could approve.
The Phase 3 IMPRESS clinical trial has been analyzing the pancreatic cancer treatment drug for its safety and worthiness and involved over 70 cancer centres in which over 722 patients are being tested. FDA has already given Algenpantucel-L a fast-track standing, orphan drug label and a Special Protocol Assessment (SPA). If the results of the IMPRESS study come out positive, then this would benefit the immunotherapy industry and offer the much-awaited cure for the pancreatic cancer. But, the industry experts are not that optimistic about the results as the study has still not reached its end.
NewLink Genetics HyperAcute Platform
As part of the company’s HyperAcute immunotherapy projects, this clinical trial is one of the biggest in the U.S. The HyperAcute platform of the company involves the creation of new drugs to fight cancer cells. The company aims at coming up with a therapy that will enable the immune system to self-defend itself from the cancer cells. Apart from the algenpantucel-L clinical trial, the company is also working on coming up with a cure for lung cancer. The tergenpumatucel-L drug that shows hope of treating the non-small cell lung cancer is underway Phase 2b trial. 240 patients with lung cancer are part of this study that is also part of the cancer treatment project of NewLink Genetics.