Cyteir to dissolve as oncology biotech scraps its final clinical attempt two years after IPO

Cyteir Ther­a­peu­tics will dis­solve, liq­ui­date and re­turn re­main­ing cash to share­hold­ers, the Lex­ing­ton, MA-based biotech said Fri­day morn­ing.

The pub­lic com­pa­ny said its in­ves­ti­ga­tion­al drug didn’t clear the ef­fi­ca­cy hur­dles need­ed to move be­yond a Phase I com­bi­na­tion study. Cyteir tried pair­ing CYT-0851 with the chemother­a­py capecitabine and gem­c­itabine, which is usu­al­ly com­bined with oth­er on­col­o­gy drugs. The ear­ly-stage study in­clud­ed pa­tients with ad­vanced ovar­i­an can­cer and oth­er sol­id tu­mors.

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