Read Why VBL Therapeutics Shares Are Falling To a 52-Week Low

Vandana Singh
1 min read
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  • Vascular Biogenics Ltd or VBL Therapeutics (NASDAQ: VBLT) announced topline data from the Phase 3 OVAL clinical trial of ofra-vec (ofranergene obadenovec; VB-111) in platinum-resistant ovarian cancer.

  • The trial did not meet the primary endpoints of achieving a statistically significant improvement in progression-free survival (PFS) or overall survival (OS).

  • The OVAL trial demonstrated that patients randomized to the combination of ofra-vec and paclitaxel had a median PFS of 5.29 months versus 5.36 months for the paclitaxel control arm.

  • The interim overall survival analysis was also not significantly different (median OS 13.37 months in the treatment arm versus 13.14 months in the control arm.

  • The company will discontinue the OVAL trial and review the data from ongoing Phase 2 trials in metastatic colorectal cancer and recurrent glioblastoma multiforme.

  • As VBL evaluates the next steps with the ofra-vec program, it continues to move the VB-601 program towards a first-in-human clinical trial, expected to begin in Q4 of 2022.

  • The company anticipates that its current cash of $44.8 million will be sufficient to fund planned operations for at least the next 12 months.

  • Price Action: VBLT shares are down 78.5% at $0.44 during the premarket session on the last check Wednesday.

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