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Tocagen (TOCA) said Tuesday that a Phase 3 clinical trial involving a novel gene therapy for aggressive brain tumors will continue to a final analysis later this year, following an interim look at patient survival data conducted by independent monitors. Tocagen’s stock price dropped sharply.

The San Diego-based biotech pitched the study’s continuation as an encouraging sign for its gene therapy called Toca 511/Toca FC, which is designed to deliver a localized chemotherapy directly to the site of brain tumors.

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