Austin’s Mirna Therapeutics announced that they will be stopping the development of their cancer-fighting drug MRX34. The reason for the shutdown is because of the recorded deaths in the Phase I study. The company has already halted the research and development of the drug and currently cutting down employees and expenses. According to the CEO of the company, it was a hard decision to stop the development of MRX34 because they have been working on it for almost a decade. The company is also considering other options regarding the future of the company, whether a sale or do a reverse merger to keep the company afloat.
Read more about this here: Austin cancer fighters halt drug development after deaths