Mural Oncology (MURA) said Tuesday it will stop the development of nemvaleukin alfa for platinum-resistant ovarian cancer as it believes a phase 3 trial of the drug combined with Merck's (MRK) Keytruda is "highly unlikely to achieve success" at the final analysis.
Shares of Mural slumped 59% following an increase in intraday trading volume to over 3.52 million from a daily average of about 156,000.
Cassava Sciences (SAVA) said that topline results from its phase 3 REFOCUS-ALZ study of simufilam showed no treatment benefit for patients with mild-to-moderate Alzheimer's disease.
The biotech company said the results did not meet the co-primary, secondary, and exploratory biomarker endpoints.
Shares sank 33%, with intraday trading volume rising to over 13.8 million versus a daily average of about 1.96 million.
Price: 1.53, Change: -2.30, Percent Change: -60.05
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