ProNAi Therapeutics, a drug development company focused on advancing targeted therapeutics for the treatment of patients with cancer, has reported in its financial and operational results for the second quarter of 2016 that it is shuttering a research facility.

In June 2016, the company reported that it had suspended development of the cancer drug PNT2258. This decision was informed by a review of the interim data from the Wolverine Phase 2 trial of PNT2258. Although modest efficacy was observed from PNT2258 in this interim analysis, the company did not view these data as robust enough to justify continued development of the drug.

The company continues to review these data in order to determine next steps with the asset and technology; however, no further investment in PNT2258 or the underlying DNAi platform by ProNAi is contemplated and the company subsequently has closed its research facility based in Plymouth, Michigan, which supported these programs.

ProNAi Therapeutics is a drug development company focused on advancing targeted therapeutics for the treatment of patients with cancer. ProNAi is developing PNT141, a potent, selective and orally bioavailable small molecule inhibitor of the Cdc7 kinase. This kinase is a key regulator of both DNA replication and DNA damage response, making it a compelling emerging target for the potential treatment of a broad range of tumor types.