Harpoon Therapeutics Inc (NASDAQ:HARP), in its Q4 FY21 earnings results, has given up on its onetime lead prospect HPN424.
- "We are focusing our resources on portfolio programs that show promising activity, including HPN328 and HPN217, while we advance new candidates into the clinic from our technology platforms," said Julie Eastland, President & CEO.
- "Additionally, we have conducted a careful and thorough analysis of our HPN424 data...we have decided to discontinue the HPN424 dose-escalation study," Eastland added.
- Harpoon used HPN424 as the centerpiece of an IPO filing.
- In June last year, the Company presented interim data from the dose-escalation portion of a Phase 1/2a trial of HPN424 in metastatic castration-resistant prostate cancer (mCRPC).
- Dose Limiting Toxicities were observed at doses ranging from 96 to 300ng/kg.
- Harpoon went into 2022, aiming to complete dose-escalation 2H of 2022.
- Harpoon expects to determine the Phase 2 doses of HPN328, a drug for tumors associated with DLL3 expression, and BCMA prospect HPN217 by 2022.
- Harpoon ended 2021 with $136.6 million in cash, cash equivalents, and marketable securities.
- Price Action: HARP shares are down 13.6% at $4.68 during the market session on the last check Friday.
