On February 23, 2016 Ignyta, Inc. (Nasdaq: RXDX), a precision oncology biotechnology company, reported plans to prioritize certain "core" pipeline programs that have generated the most promising data to date, and to deprioritize certain "non-core" pipeline programs that have either generated less promising data or fall outside of Ignyta’s focus on molecularly targeted therapies (Press release, Ignyta, FEB 23, 2016, View Source [SID:1234509147]). Schedule your 30 min Free 1stOncology Demo! This strategic positioning prioritizes key research and development activities, improves efficiencies and reduces operating expenses.
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These plans include:
A renewed commitment to drive value from Ignyta’s core Rx/Dx business via molecularly targeted therapies by prioritizing the continued development of its entrectinib, taladegib, RXDX-105 and RXDX-106 programs in conjunction with complementary Dx development and laboratory operations;
Continued activities in furtherance of Ignyta’s immuno-oncology and cancer stem cell programs that relate to its current molecularly targeted pipeline (e.g., potential immunotherapy applications of the RXDX-105 and RXDX-106 programs, and potential molecularly targeted cancer stem cell applications of the taladegib and Spark programs); and
Cessation of all development activities relating to the company’s RXDX-107, RXDX-103 and RXDX-108 programs, and some of the Spark discovery programs.
"We continuously seek to develop targeted first-in-class and best-in-class product candidates for the benefit of cancer patients," said Jonathan Lim, M.D., Chairman and CEO of Ignyta. "After reviewing our pipeline and recent preclinical data for certain programs in light of this goal, and keeping in mind our obligation to be good stewards of our resources, we are undertaking this streamlining of our operations to focus on the key priorities and competencies that we believe are most likely to generate value for patients and stockholders."
Ignyta expects to provide further details regarding its strategic priorities during its upcoming March conference call to discuss its 2015 financial results. On Tuesday, February 23, 2016, Ignyta filed a Form-8-K with the U.S. Securities and Exchange Commission (SEC) containing a slide presentation detailing the company’s strategic positioning and prioritized pipeline. Ignyta’s SEC filings can be found on the company’s website at www.ignyta.com and on the SEC’s website at www.sec.gov.