Nuvation Bio to End NUV-422 Program, Cut 35% of Staff >NUVB

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By Colin Kellaher

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Nuvation Bio Inc. on Monday said it is pulling the plug on its lead program, NUV-422, and slashing 35% of its workforce, after the emergence of eye inflammation in study patients led to clinical holds on the program.

The New York biopharmaceutical company said it made the decision based on feedback from the US Food and Drug Administration and a request from the agency for a mitigation plan to address the adverse event of uveitis, which emerged during a Phase 1 dose-escalation study of NUV -422 in solid tumors.

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Nuvation said it believes that it would be difficult to craft an effective mitigation plan without significant further research, as the cause of uveitis associated with NUV-422 isnt understood and its development appears unpredictable.

Nuvation said it would concentrate its resources on the clinical development of NUV-868, its BD2-selective BET inhibitor, and identifying a lead clinical candidate from its novel small-molecule DDC platform.

The company, which had more than $700 million in cash, equivalents and marketable securities as of June 30, said it expects the restructuring and cost savings associated with ending the NUV-422 program to extend its cash runway through 2028.

Nuvation currently has about 70 employees, according to data from FactSet.

Write to Colin Kellaher at [email protected]

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Credit: www.marketwatch.com /

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