[Featured Stock] MedPacto Falls on News of Withdrawal from Phase 2 Clinical Trial for Desmoid Tumor

[Asia Economy Reporter Lee Jung-yoon] MedPacto is showing a downward trend on the 24th after announcing the withdrawal of its Phase 2 clinical trial related to desmoid tumors, for which it had received Investigational New Drug (IND) approval and was preparing.

As of 10:08 AM on the day, MedPacto is trading at 28,750 KRW, down 5.12% from the previous day.

The previous day, MedPacto disclosed that it voluntarily withdrew the Phase 2 clinical trial comparing the combination therapy of Bactosertib and Imatinib versus Imatinib monotherapy (MP-VAC-206) for progressive desmoid tumors (aggressive fibromatosis). This clinical trial had been approved by the Ministry of Food and Drug Safety in November last year.

The company explained, "We have revised our strategy to focus our capabilities on clinical trials for cancer types that can be commercialized early, leading to a portfolio adjustment regarding the Bactosertib clinical trial."