(Reuters) -IO Biotech said on Monday its experimental combination cancer vaccine helped slow the disease’s progression in a late-stage study, but narrowly missed the main goal as the results did not show statistical significance.
Shares of the drug developer, which had surged as much as 50% in premarket trading, were last trading 7.2% up before the bell.
The company said patients who received the vaccine, in combination with Merck’s Keytruda, lived without their disease getting worse for a median of 19.4 months, compared to 11 months for those who received Keytruda alone.
IO Biotech, which was testing the combination vaccine Cylembio in 407 patients with advanced skin cancer, said it was well tolerated with no new safety signals. It also observed a trend toward an improvement in overall survival.
The company said it plans to meet with the U.S. Food and Drug Administration this fall to discuss the data and next steps for a potential regulatory submission.
(Reporting by Sneha S K in Bengaluru; Editing by Shilpi Majumdar)
Comments