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eFFECTOR Therapeutics (NASDAQ: EFTR) announced it will wind down operations and explore strategic alternatives for its development programs. The decision, made during a special board meeting, involves terminating employees and preparing for delisting from Nasdaq. The company acknowledges non-compliance with Nasdaq's listing requirements and plans to request voluntary delisting soon. Craig R. Jalbert, an expert in distressed businesses, has been appointed as CEO, President, Treasurer, Secretary, and sole board member to oversee the wind-down process. Jalbert has extensive experience managing companies in their wind-down phases.
eFFECTOR Therapeutics announced a collaboration with the Dana-Farber Cancer Institute for an investigator-sponsored Phase 2 trial. The trial will evaluate zotatifin in combination with abemaciclib and letrozole in patients with estrogen receptor-positive (ER+) endometrial cancer and low grade serous ovarian cancer. Dr. Panagiotis Konstantinopoulos, Director of Translational Research at DFCI, will oversee the study. The trial aims to address the resistance seen in current treatments by targeting eIF4A, thereby improving outcomes. Concurrently, eFFECTOR is progressing zotatifin in ER+ metastatic breast cancer, expecting Phase 2 dosing results in late 2024.
eFFECTOR Therapeutics, Inc. (NASDAQ: EFTR) reported financial results for Q1 2024 and provided a corporate update. The company raised $15.0 million in gross proceeds extending cash runway. The focus is on the zotatifin program and advancing it efficiently. The ZFA triplet is showing promising results with 7.4 month mPFS in heavily pre-treated patients. The KICKSTART trial results were disappointing, leading to a shift in focus. The company's cash position is strong, with cash expected to last until Q1 2025.
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