Calithera Biosciences, Inc. (CALA) reported topline results from the CANTATA clinical study of glutaminase inhibitor telaglenastat in patients with advanced or metastatic renal cell carcinoma. The company said, as compared to treatment with cabozantinib, the combination of telaglenastat and cabozantinib did not meet the primary endpoint of improving progression free survival in the study population.
As a result of the outcome of CANTATA study, Calithera will reduce workforce by approximately 35 percent to focus on ongoing programs. Calithera expects the one-time severance-related charge associated with the workforce reduction to be approximately $1.3 million - $1.5 million, with the majority to be completed by the first quarter of 2021.
Shares of Calithera Biosciences were down 50% in pre-market trade on Monday.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.