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    POLN   CH0106213793

POLYPHOR AG

(POLN)
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Polyphor AG Provides Update on the Future of the Fortress Study of Balixafortide and Announces Initial Restructuring Steps

07/16/2021 | 01:30am EDT

Polyphor AG announced 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.


© S&P Capital IQ 2021
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Financials
Sales 2021 1,00 M 1,07 M 1,07 M
Net income 2021 -41,4 M -44,4 M -44,4 M
Net Debt 2021 76,8 M 82,4 M 82,4 M
P/E ratio 2021 -0,53x
Yield 2021 -
Capitalization 23,6 M 25,3 M 25,3 M
EV / Sales 2021 100x
EV / Sales 2022 5,72x
Nbr of Employees 52
Free-Float 81,5%
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Polyphor AG Technical Analysis Chart | POLN | CH0106213793 | MarketScreener
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Number of Analysts 1
Last Close Price 2,00 
Average target price
Spread / Average Target -
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Managers and Directors
Gökhan Batur Chief Executive Officer
Hernan Levett Chief Financial Officer
Kuno Sommer Chairman
Daniel Obrecht Chief Scientific Officer
Frank T. Weber Chief Medical & Development Officer
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