Welcome to our dedicated page for eFFECTOR Therapeutics news (Ticker: EFTR), a resource for investors and traders seeking the latest updates and insights on eFFECTOR Therapeutics stock.
eFFECTOR Therapeutics, Inc., headquartered in San Diego, is a cutting-edge biotechnology company that focuses on developing a novel class of oncology drugs known as selective translation regulator inhibitors (STRIs). The company's mission is to advance cancer treatment by targeting key molecular mechanisms that drive the disease.
eFFECTOR's flagship product, zotatifin, is currently under Phase 1/2 clinical trials for ER+/HER2- metastatic breast cancer. Recently, zotatifin received Fast Track designation from the U.S. FDA in combination with fulvestrant and abemaciclib, underscoring its potential in treating advanced or metastatic breast cancer. In these trials, zotatifin showed promising results with a 26% partial response rate in heavily pretreated patients.
Another key product in eFFECTOR's pipeline is tomivosertib, an MNK inhibitor being evaluated in a Phase 2b trial for metastatic non-small cell lung cancer (NSCLC). The company's research extends to other biomarker-positive solid tumors, including ER+ breast cancer and KRAS-mutant NSCLC.
eFFECTOR is also collaborating globally with Pfizer to develop inhibitors targeting eIF4E, further enhancing its research capabilities and clinical development. This partnership aims to streamline the translation of groundbreaking findings into viable treatments for cancer patients.
Financially, eFFECTOR continues to strengthen its position through strategic offerings, raising approximately $15 million in recent direct offerings. This capital helps advance their research projects and maintain a robust developmental pipeline.
Additionally, eFFECTOR announced a reverse stock split aimed at regaining compliance with Nasdaq's minimum bid price requirements, effective January 12, 2024. This move is intended to better position the company within the stock market, ensuring long-term growth and stability.
Stay updated with eFFECTOR's latest developments as they continue to innovate in the field of oncology, pushing the boundaries of cancer treatment.
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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