TCR2 Therapeutics Inc. (TCRR) stock plunge during current market trading. Here’s what’s happening?

TCR2 Therapeutics Inc. (NASDAQ: TCRR) stock declines by 30.96% in the current market trading session. TCR2 Therapeutics is a cell therapy firm in the clinical stage that is building a pipeline of new T cell treatments for cancer patients.

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TCRR stock’ Update

TCR2 Therapeutics published good interim findings from the gavo-cell Phase 1/2 clinical trial for mesothelin-expressing solid tumours, which is still in progress. On September 17, a dataset will be presented in an oral presentation as part of the official ESMO Press Program at the European Society for Medical Oncology (ESMO) Congress 2021.

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David Hong, deputy chair of the Department of Investigational Cancer Therapeutics at The University of Texas MD Anderson Cancer Center stated that the interim gavo-cel findings released today, demonstrated continuing medical efficacy and a controllable safety profile in a group of patients who had previously had little or no effective function to their cancer’s advanced and aggressive stage. Patients with treatment-resistant cancer have few alternatives for treatment and will frequently require hospice and supportive care. The initial survival statistics from gavo-cel in patients who had previously been treated with checkpoint inhibitors and other treatments gives us hope.

Alfonso Quintás-Cardama, Chief Medical Officer of TCR2 Therapeutics commented,

From the beginning, the goal with gavo-cel was to use cell therapies to reframe solid tumour therapy. They are pleased to share findings showing clinical activity in all three mesothelin-expressing solid tumours addressed thus far, as well as tumour shrinkage in the bulk of patients who have failed multiple rounds of therapy. The progression-free surviving and overall success rates observed in patients with refractory mesothelioma administered with gavo-cel in the Phase 1 trial are very encouraging. They feel the identification of the RP2D is close at hand, based on these findings and the most recent patient who had a very mild safety profile at a cell dose of 3×108/m2. As they reach the Phase 2 expansion phase, their emphasis will move to further improving patient outcomes by investigating immune checkpoint inhibitor combinations, permitting gavo-cel re-treatment, and assessing various mesothelin expression levels.

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