(TYME) – Tyme stock trades higher on pipeline update after strategic review, fourth quarter results
- Tyme Technologies Inc (NASDAQ: TYME) announced a breast cancer trial with Georgetown University named OASIS. Registration is expected to begin in the third quarter of 2021.
- Investigator-initiated, open-label, phase 2 trial will assess the efficacy and safety of SM-88 for metastatic breast cancer with positive hormone receptors and human epidermal growth factor 2 (HR + / HER2-) receptors after treatment with a CDK4 / 6 inhibitor.
- This trial is a two-step trial, initially involving 30 patients, spanning up to 50 patients without standard disease-modifying therapies. The primary endpoint is tumor response.
- Following the strategic review, Tyme also decided to discontinue the TYME-88-Panc (part 2) clinical trial evaluating SM-88 as a third-line treatment in pancreatic cancer.
- Precision Promise, the Pancreatic Cancer Network-sponsored trial evaluating SM-88 as a second-line treatment, will continue, the company said.
- The company also strengthened its management by appointing Jan M. Van Tornout as Interim Chief Medical Officer and Frank Porfido as Chief Financial Officer.
- In the fourth quarter ended March 31, the company had approximately $ 107.5 million in cash and cash equivalents.
- TYME currently expects its quarterly cash consumption rate to range from $ 6.0 to $ 8.0 million per quarter in fiscal 2022.
- Price action: TYME shares are up 5.03% to $ 1.67 during the pre-market session last check Friday.
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