ITeos Therapeutics, GSK To Halt Belrestotug Development Program, End Partnership; Stock Climbs

(RTTNews) - Tuesday, iTeos Therapeutics, Inc. (ITOS) along with its development partner GSK announced the decision to discontinue the belrestotug development program and end the collaboration.

The decision comes after the announcement of the interim analysis of GALAXIES Lung-201, the Phase 2 platform study assessing the belrestotug + dostarlimab doublet in previously untreated, unresectable, locally advanced or metastatic PD-L1 high non-small cell lung cancer.

The company stated that the analysis did not meet established criteria for clinically meaningful improvements in the secondary endpoint of progression free survival in the belrestotug + dostarlimab combination cohorts versus dostarlimab monotherapy.

Additionally, an interim analysis of the GALAXIES H&N-202 Phase 2 trial showed a trend below the meaningful threshold for ORR in the belrestotug combination cohorts vs. dostarlimab monotherapy in PD-L1 positive head and neck squamous cell carcinoma.

Following this, the company has ended all belrestotug-containing cohorts, as well as new enrollment in the ongoing GALAXIES Lung-301 Phase 3 trial.

Meanwhile, GSK is communicating with investigators, institutional review boards, ethics committees, and health authorities about next steps for appropriate management of currently enrolled patients.

The company is further taking steps to preserve capital and has initiated a targeted process to identify opportunities that preserve and maximize shareholder value.

Currently, iTeos's stock is trading at $7.93, up 14.67 percent on the Nasdaq.