Transgene: share price falls after Phase II failure

(CercleFinance.com) - Transgene's share price fell sharply on Monday morning on the Paris Bourse after announcing the failure of a clinical trial for the treatment of cervical and anogenital cancers.


Shortly before 9:30 am, the French biotech's share price fell by over 15%, by far the biggest drop on the Paris market at the start of the week.

The company announced this morning that the Phase II trial of its TG4001 therapeutic vaccine had failed to meet its primary endpoint of improving progression-free survival.

The trial was designed to assess the efficacy of the TG4001 immunotherapy combination with Merck KGaA and Pfizer's Bavencio against Bavencio alone in patients with advanced, recurrent or metastatic HPV16-positive anogenital cancer.

The overall study included 100 patients.

Following this result, analysts at Oddo BHF have decided to immediately remove this asset from their valuation model, leading them to adjust their price target downwards from €2.6 to €2.2.

In a press release, Transgene explains that its strategy remains focused on the continued development of our core asset, TG4050, a therapeutic vaccine evaluated in the treatment of head and neck cancer after surgery.

Data on the median 24-month follow-up of phase I patients in this indication are due to be presented at a medical congress in November.

If Transgene can demonstrate that fewer than 6 of the 16 patients treated with TG4050 have relapsed at 24 months, and that the outcome is better than that of the control bar (3 of whom had already relapsed at 18 months), this will send a strong signal about the efficacy of this personalized therapeutic vaccine approach", commented All Invest Securities this morning.

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