Shares of biopharmaceutical company Theratechnologies (NASDAQ:THTX) are tanking today after it paused patient enrolment in the Phase 1 trial of its lead investigational candidate TH1902 for the treatment of sortilin-expressing cancers.
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THTX now plans to submit an amended protocol to the U.S. Food and Drug Administration (FDA) for approval.
The move comes after observed efficacy results were not strong enough to continue enrolments and did not outweigh the observed adverse events in the trial.
Analysts, in the meantime, have a Moderate Buy consensus rating on the stock alongside an average price target of $7.50.
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