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Monopar Tanks After Validive Fails Cancer Trial
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Monopar Tanks After Validive Fails Cancer Trial

Shares of biopharmaceutical company Monopar Therapeutics (NASDAQ:MNPR) are tanking in the pre-market session today after the company announced its Validive Phase 2b/3 trial for the treatment of severe oral mucositis (SOM) in oropharyngeal cancer patients failed to meet predefined criteria.

The analysis of the first half of patient enrolments indicated the treatment did not achieve a 15% absolute difference in SOM prevention as compared to a placebo. Consequently, the company is discontinuing the trial while also stopping the development of Validive.

Next, MNPR will focus on the camsirubicin trial (Phase 1b) and the MNPR-101 program targeted at advanced cancers.

Overall, Wall Street has a $12 consensus price target on MNPR pointing to a massive 302% potential upside in the stock. That’s after a 30% gain in the share price over the past three months

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