Why Are Tyme Technologies Shares Staring At 52-Week Low

TYME Technologies Inc TYME will discontinue SM-88 with MPS in the Precision Promise trial in metastatic pancreatic cancer (mPDAC).

• The trial's sponsor, Pancreatic Cancer Action Network (PanCAN), terminated the arm due to futility compared to the control of the standard of care chemotherapy in second-line mPDAC. 
• Based on the information provided by PanCAN, the overall survival for SM-88 with MPS in monotherapy was lower than the standard of care chemotherapies with either Gemcitabine and Abraxane or modified FOLFIRINOX.
• The Precision Promise trial is an adaptive randomized Phase 2/3 trial in mPDAC for patients treated in both first-line and second-line therapies. 
• SM-88 (racemetyrosine) with MPS (10 mg methoxsalen, 50 mg phenytoin, and 0.5 mg sirolimus) was the first therapy to join this trial and was being studied as a standalone monotherapy in second-line patients versus control arms of the standard of care regimens.
• Price Action: TYME shares are down 41.1% at $0.31 during the premarket session on the last check Wednesday.