Business
Alaunos Therapeutics Announces Second Quarter 2023 Financial Results, Interim Clinical Data and Exploration of Strategic Alternatives
TCR-T Library Phase 1/2 trial achieved an 83% disease control rate of six evaluable patients with metastatic, refractory solid tumors; TCR-T cell therapy was
About this update from Alaunos Therapeutics, Inc.
[{"type":"text","content":"TCR-T Library Phase 1/2 trial achieved an 83% disease control rate of six evaluable patients with metastatic, refractory solid tumors; TCR-T cell therapy was well tolerated in all evaluable patientsCompany to wind down TCR-T Library Phase 1/2 trial and concurrently explore potential partnering opportunities for the hunTR® platform as well as broad strategic alternativesReducing headcount by approximately 60% while retaining key hunTR® R&D capabilities HOUSTON, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Alaunos Therapeutics, Inc. (“Alaunos” or the “Company”) (Nasdaq: TCRT), today announced financial results for the second quarter ended June 30, 2023. The Company also announced a strategic reprioritization to focus on its hunTR® TCR discovery platform, wind down its TCR-T Phase 1/2 Library trial and explore broad strategic alternatives for the Company. Alaunos is implementing a cost-savings plan that includes a reduction in workforce by approximately 60%. “Over the past two years, we have advanced the medical field’s understanding of TCR-T cell therapies using our innovative Sleeping Beauty technology targeting high-frequency driver mutations,” said Kevin S. Boyle, Sr., Chief Executive Officer of Alaunos. “We continue to believe that this approach has potential in targeting the heart of cancer growth. However, after a review of the funding needs of our TCR-T Library Phase 1/2 trial and the current financial markets, the Board of Directors has made the difficult decision to limit further drug development under our clinical trial and to focus on our promising hunTR® TCR discovery platform as we explore all strategic alternatives.” Operational & Corporate Update Interim Clinical Data from TCR-T Library Phase 1/2 Trial: Eight patients have been treated in the Company’s TCR-T Library Phase 1/2 trial to date, six of which are evaluable as of today. The trial showed that the Company’s T-cells were generally well-tolerated in all evaluable participants and achieved an 83% disease control rate in evaluable patients with metastatic, refractory solid tumors. Disease control is measured by objective responses and stable disease. Persistence of TCR-T cells in peripheral blood was detected in all evaluable patients at last follow-up. hunTR® TCR Discovery Platform Identifies Proprietary TCRs: Alaunos has discovered multiple proprietary TCRs targeting dri...