Polyphor AG / Key word(s): Strategic Company Decision
16-Jul-2021 / 07:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Allschwil, Switzerland, July 16, 2021
Polyphor provides update on the future of the FORTRESS study of balixafortide and announces initial restructuring steps
– The company has decided to initiate the closing of the FORTRESS study
– The company plans to analyze progression free survival (PFS) for the study including all major sub-groups given data maturity for the overall population is reached
– The company will neither seek overall survival (OS) analysis as key secondary endpoint nor marketing approval related to this study
– The board of directors continues its strategic assessment regarding the future of the company and will provide an update not later than end of July
– A planned restructuring by up to 29 positions is expected to create operational efficiencies and reduce costs; consultation process with employees is initiated
Polyphor AG (SIX: POLN) announced today that due to the lack of meaningful clinical benefit based on objective response rate (ORR) and clinical response rate (CBR) in the third-line or later population and following a thorough analysis, the company has decided to initiate the closure of the FORTRESS study evaluating balixafortide (POL6326) in combination with eribulin for the treatment of patients with HER2-negative, locally recurrent or metastatic breast cancer. As data maturity is reached for the overall population, Polyphor plans to further analyze progression-free survival (PFS) data for the trial, including all major subgroups. However, the company will not seek an overall survival (OS) analysis as key secondary endpoint nor marketing approval in connection with this study. The company plans to present the data from the FORTRESS trial results analyses at a future medical meeting.
In order to reduce costs and increase operational efficiency, Polyphor plans to restructure by up to 29 positions. The consultation process with employees has already been initiated.
The board of directors continues the strategic assessment considering a full range of options regarding the future of the company and will provide an update not later than end of July.
For further information please contact:
Dr. Stephan Feldhaus
End of ad hoc announcement
|Phone:||+41 61 567 1600|
|Fax:||+41 61 567 1601|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1219445|
|End of Announcement||EQS Group News Service|