Rafael Holdings Inc. (RFL) stock prices plummeted by 79.85% around the time of the start of the trading day on October 28th 2021. This brought the price per share down to USD$6.08 early on in the trading day.
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AVENGER 500 Clinical Trial
October 28th 2021 saw RFL stock announce that its AVENGER 500 Phase 3 clinical trial for CPI-613 failed to meet its primary endpoint of overall survival. The trial was designed to evaluate the efficacy and safety of CPI-613 in combination with modified FOLFIRINOX. The treatment targeted patients with metastatic adenocarcinoma of the pancreas as a form of first-line therapy.
Details of RFL Stock’s Study
The multi-national Phase 3 randomized clinical trial enrolled a total of 528 patients with metastatic adenocarcinoma of the pancreas. These patients had not received prior therapy and were randomized to receive either devimistat in combination with modified FOLFIRINOX or FOLFIFINOX, a current standard of care chemotherapy regimen. CPI-613 in conjunction with mFFX failed to significantly improve overall survival. The median overall survival in the arm that received a combination of devimistat and mFFX was 11.1 months, as compared to the 11.7 months reported for the FOLFIRINOX arm.
RFL Stock Soldiers On
The cancers the RFL stock attempted to treat have historically been very challenging to address, with few to no effective treatments being available. Despite the disappointing outcomes of the studies, which were both designed and executed adequately, the company remains committed to furthering its research and development in cancer metabolism. These efforts are aimed at the treatment of cancers that prove difficult to treat, in tandem with the continuation of its other studies.
Scope of CPI-613
Pancreatic cancer has demonstrated a high mortality rate and is extremely challenging to treat. Nevertheless, promising prior clinical data has consolidated the company’s efforts to progress into an advanced phase trial with devimistat. In spite of the negative outcome, RFL stock is hopeful that its CPI-613 treatment will demonstrate efficacy in other studies with its novel mechanism of action. The company is allocating resources towards the further analysis of data as it plans the best plan of action to further assess the treatment’s clinical potential.
Future Outlook for RFL Stock
RFL stock is poised to capitalize on the data collected over the course of the trial, despite the disheartening results. The company is keen to make use of this data to return the company to its previous trajectory of success in a bid to usher unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value over the long term.