Kintara Therapeutics, Inc. (KTRA) stock lost around 4.05% early today at the price of $0.59 despite no fundamental updates. KTRA, located in San Diego, develops and commercializes novel cancer treatments to satisfy the unmet medical needs of patients.
First Global Site Activation of GCAR Phase 2/3 Clinical Trial
On 30th November 2021, KTRA reported the activation of the GCAR trial for glioblastoma at its first site, Sunnybrook Health Sciences Centre in Toronto. GBM AGILE is a patient-centered, Phase 2/3 clinical trial that evaluates numerous therapies for patients with recurrent GBM. GCAR intends to enroll 150 to 200 new patients in the Kintara arm of the study at 40 different sites in Canada and the United States. It will gradually increase this number to 65 clinical trial centers globally.
Principal Investigator of the GBM AGILE study, Timothy Cloughesy, commented that the Kintara treatment arm started the GBM AGILE clinical study in January 2021 and has already operational at 31 sites in Canada and U.S. This global clinical site illustrates the capacity of GCAR’s GBM AGILE trial to accelerate the clinical development timelines for the company.
Chief Executive Officer of KRTA, Robert E. Hoffman, remarked that the entire team is excited to see the execution of their treatment arm globally. With 31 sites already functional, they are satisfied with GCAR’s impressive clinical trial execution capabilities. It has dragged them into this efficient and highly favorable registrational study, he added.
KRTA First Quarter Fiscal 2022 Financial Results
On 15th November 2021, KRTA reported its financial results for the fiscal first quarter ended 30th September 2021 and delivered corporate updates. The company had cash and cash equivalents of $19.3 million on 30th September 2021. For the first fiscal quarter ended 30th September 2021, Kintara calculated a net loss of $6.0 million. The net loss was $19.5 million for the same three months ended on 30th September 2020. For the first quarter of fiscal 2022, the net loss per share was $0.25. Net loss per share was $1.33 for the first quarter of fiscal 2021.