Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Instil Bio Discontinues ITIL-168 Cancer Trials, Layoffs 60% Of Its Employees

Published 08/12/2022, 16:04
Updated 08/12/2022, 17:10
© Reuters.  Instil Bio Discontinues ITIL-168 Cancer Trials, Layoffs 60% Of Its Employees

Benzinga -

  • Instil Bio Inc (NASDAQ: TIL) announced a reprioritization of its clinical programs to focus on developing its CoStAR-TIL product candidates.
  • The company has prioritized the development of its proprietary, genetically-engineered CoStAR-TIL programs, designed to boost the efficacy of T cells within the tumor microenvironment (TME).
  • Instil's lead CoStAR-TIL program, ITIL-306 is in a Phase 1 dose escalation trial in non-small cell lung cancer (NSCLC), ovarian cancer, and renal cell carcinoma.
  • The company expects to report data from the dose escalation cohorts of Phase 1 ITIL-306 study in 2023.
  • In October, the company voluntarily paused enrollment in its ongoing ITIL-306 trial as part of its overall manufacturing analysis.
  • Instil is undertaking a reduction in its U.S. workforce of approximately 60% to realign its operating model from a registration-focused company to a development-stage company.
  • Instil is discontinuing its ITIL-168 clinical programs, the DELTA-1 trial in advanced melanoma and the DELTA-2 trial in NSCLC, cervical cancer, and head and neck squamous cell carcinoma.
  • Price Action: TIL shares are down 17.20% at $1.01 on the last check Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.