(RTTNews) – Calithera Biosciences, Inc. (CALA) reported topline results from the CANTATA clinical study of glutaminase inhibitor telaglenastat in patients with advanced or metastatic renal cell carcinoma. The company said, as compared to treatment with cabozantinib, the combination of telaglenastat and cabozantinib did not meet the primary endpoint of improving progression free survival in the study population.
As a result of the outcome of CANTATA study, Calithera will reduce workforce by approximately 35 percent to focus on ongoing programs. Calithera expects the one-time severance-related charge associated with the workforce reduction to be approximately $1.3 million – $1.5 million, with the majority to be completed by the first quarter of 2021.
Shares of Calithera Biosciences were down 50% in pre-market trade on Monday.