The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
crash@ (Adds company and analyst comments, background, updates shares)
Sept 12 (Reuters) - Tocagen Inc's shares fell nearly 80% after its experimental treatment failed to extend life of brain cancer patients in a study, the latest in a series of setbacks for patients awaiting new treatment options for the condition.
The news comes a week after Bristol-Myers Squibb Co said its blockbuster cancer immunotherapy, Opdivo, failed a late-stage trial testing it in patients with glioblastoma, a type of brain cancer that killed U.S. Senator John McCain.
"This has been a really difficult place to develop drugs," SVB Leerink analyst Daina Graybosch said, adding that brain cancer has one of the highest unmet need for patients, of all cancers.
Tocagen said its lead product candidate, Toca 511 & Toca FC, did not show meaningful superiority in secondary goals compared to standard of care treatment in the trial, which evaluated the therapy in patients with recurrent high grade glioma (RHGG).
Any hopes for even a near miss in the trial that could have potentially warranted regulatory review in light of the unmet need in RHGG have been quashed by the results, Baird analyst Madhu Kumar said.
Further data from the trial will be presented at an upcoming medical conference, which analysts say will likely determine the future of Tocagen's plans for another program testing the therapy in newly-diagnosed brain cancer.
Toca 511 & Toca FC, a cancer-selective therapy that spares blood cells from the common side effects associated with chemotherapy, is also being tested in bladder cancer.
The company said it plans to conduct an operational review to evaluate its pipeline strategy moving forward.
The California-based company had cash of $68.3 million, as of June-end.
"We have capital that will take us well into 2020 as we continue our correspondence with the regulatory agencies," Tocagen's Chief Executive Officer Marty Duvall told Reuters.
Shares of the company plummeted 79.2% to 87 cents. (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shinjini Ganguli)