Galera Therapeutics Inc (GRTX)

Galera Therapeutics Stock (GRTX) dropped by 54.02% from $0.2112 to $0.0971 in the trading on Tuesday October 31, 2023. The reason why GRTX stock down today is due to warns of potential shutdown as it halts clinical trials. The company will be forced to discontinue operations if it fails to find strategic alternatives. The warnings come after an FDA Type A meeting in September, during which the regulator requested an additional Phase 3 trial to review its lead asset, avasopasem manganese, targeted at radiotherapy-driven severe oral mucositis. Meanwhile, the company has decided to halt two mid-stage trials, as GRECO-2 trial did not pass futility analysis.