Tyme Stock Is Trading Higher On Pipeline Update After Strategic Review, Q4 Earnings

Tyme Technologies Inc (NASDAQ:TYME) announced a breast cancer trial with Georgetown University named OASIS. Enrollment is expected to start in Q3 of 2021.
The investigator-initiated prospective open-label Phase 2 trial will evaluate the efficacy and safety of SM-88 for metastatic hormone receptor-positive, human epidermal growth factor receptor 2 negative (HR+/HER2-) breast cancer after treatment with a CDK4/6 inhibitor.
This trial is a two-stage trial, initially enrolling 30 patients, expanding up to 50 patients without standard background therapies. The primary endpoint is tumor response.
As a result of the strategic review, Tyme has also decided to halt the TYME-88-Panc (Part 2) clinical trial evaluating SM-88 as third-line therapy in pancreatic cancer.
Precision Promise, the Pancreatic Cancer Network-sponsored trial evaluating SM-88 as a second-line therapy, will continue, the company said.
The company also beefed up its management by appointing Jan M. Van Tornout as the acting chief medical officer and Frank Porfido as the CFO.
As of the fourth quarter ended March 31, the company had approximately $107.5 million in cash and cash equivalents.
TYME currently anticipates that its quarterly cash burn rate will range from $6.0 to $8.0 million per quarter during the fiscal year 2022.
Price Action: TYME shares are up 5.03% at $1.67 during the premarket session on the last check Friday.

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