Shares in Tiziana Life Sciences (TILS) fell 13 per cent on the day that management announced it would be discontinuing funding of the pre-clinical development programme for one of its cancer drugs.
IC TIP:
Hold
at
172p
The cancer and immunotherapy specialist said it would cease funding for developing its B-cell Lymphoma 3 inhibitors, following a portfolio review. Instead, it will refocus efforts on other drug candidates, which Tiziana thinks have greater near-term potential to deliver value for shareholders. The group will retain all the intellectual property relating to the Bcl-3 programme and will work with the doctors behind the drug to examine the potential to develop the programme further with grant funding, management said.
