Tyme Technologies is a healthcare company developing medicines to fight cancer based on metabolism. Its product portfolio consists of SM-88, a candidate for the treatment of 15 types of cancer, TYME-19, a drug that is being tested to treat COVID-19, and TYME-18, a drug that treats inoperable tumors. The price of the stock, which was already in a deplorable state, today is reduced by almost 2 times to $0.29. Yesterday’s trading session was closed at $0.53, down 15 cents from a month ago.
Tyme Technologies broke the bad news, which is why the stock crashed. Its lead candidate SM-88 with MPS (10 mg methoxsalen, 50 mg phenytoin, and 0.5 mg sirolimus) in Phase II and III clinical trials was found to be less effective than other treatments for pancreatic cancer such as Gemcitabine, Abraxane, and modified FOLFIRINOX. Richie Cunningham, CEO of TYME, expressed his disappointment at being helpless against this disease, and also thanked all the patients and researchers involved in the trial of this drug, including the PanCAN and Precision Promise, who are always supportive and ready to explore new ways to fight pancreatic cancer.