Shares of G1 Therapeutics (NASDAQ: GTHX) crashed by more than 50% in morning trading on Monday after the oncology-focused company terminated its pivotal Phase 3 trial, PRESERVE 1 for its colorectal cancer candidate trilaciclib after looking at its topline data.
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While this trial did achieve its two primary endpoints indicating statistically significant reductions in the occurrence of severe neutropenia (abnormally low white blood cells) during induction and duration of severe neutropenia in cycles 1 through 4, GTHX still decided to terminate the trial.
A major reason for the termination was that early anti-tumor efficacy data favored patients receiving placebo over those receiving trilaciclib.
Analysts, however, remain bullish about GTHX stock with a Strong Buy consensus rating based on three Buys and one Hold.
