Benitec Biopharma Ltd. (ASX:BLT,NASDAQ:BNTC) announced plans to wind down and terminate its hepatitis C program after the completion of patients in Cohort 4 of the Phase I/IIa clinical trial for TT-034.
As quoted in the press release:
Benitec’s Board made the decision to discontinue the hepatitis C program following a review of the commercial opportunities for TT-034. A number of effective therapies have become available for the treatment of hepatitis C since Benitec commenced its clinical trial in January 2014. In recent months, several competitors have made improvements in the efficacy, delivery and success rates of their product treatments while continuing to reduce pricing and treatment duration.
As a result of this increasing competitive landscape and the time required to get TT-034 to market, TT- 034 has generated limited and diminishing partnering interest from pharmaceutical companies. The Board has today concluded that the hepatitis C program does not offer the commercial value necessary to attract a worthwhile partnership deal and, as a result, does not warrant additional expenditure or focus of company resources beyond completion of patients in Cohort 4.