iTeos Therapeutics (ITOS) said Thursday that it is deprioritizing inupadenant to "focus resources on other programs."

The company said it will present data from the dose escalation part of a a mid-stage trial evaluating inupadenant plus chemotherapy in non-small cell lung cancer at an event hosted by the European Society for Medical Oncology.

"While the initial signal for inupadenant's RP2D in the A2A-005 trial compared to chemotherapy alone is encouraging and supports its differentiated, insurmountable profile, we as well as our scientific and clinical advisory boards believe it does not meet sufficient level of clinical activity to warrant further investment," said iTeos chief executive officer Michel Detheux.

Detheux said the company will provide updates on its pipeline next year.

Shares of the company were up more than 2% in recent premarket activity.

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