Tocagen Stock Tanks After Gene Therapy Drug for Brain Cancer Fails
Summary
San Diego’s Tocagen (NASDAQ: TOCA), has been testing its drug in recurrent high-grade glioma, the most common and deadly type of brain cancer in adults. As a result, the study did not end early and instead continued, with Tocagen hoping that more time would lead to better data. Tocagan’s stock price dropped sharply at the time as investors worried the decision indicated the data weren’t promising. Tocagen entered the public markets in April 2017, raising $85 million to advance its investigational gene therapy. The company plans to present results at a future medical conference, likely in the fourth quarter of the year, after fully analyzing the data.
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