08:06 AM EDT, 06/23/2025 (MT Newswires) -- Leap Therapeutics ( LPTX ) said Monday its phase 2 sirexatamab colorectal cancer study demonstrated significant benefits in patients with high levels of DKK1, no prior exposure to anti-VEGF therapy, or liver metastasis.

The study assessed sirexatamab in combination with bevacizumab and chemotherapy, compared to bevacizumab and chemotherapy, in patients with advanced microsatellite stable colorectal cancer who have received one prior systemic therapy for advanced disease, the company said in a statement.

An analysis of the results showed that sirexatamab demonstrated a positive trend on overall response rate and progression-free survival in the full second-line colorectal cancer population, according to the statement.

Meanwhile, Leap said it is "taking additional steps" to reduce spending and preserve capital, as it plans to implement a workforce reduction of around 75%. The total cash payments and costs related to the workforce reduction are estimated to be about $3.2 million, to be recognized in Q3, the company said.

Leap said it has started a process to explore strategic alternatives to preserve and maximize shareholder value, including leveraging its cash balance and exploring potential sale or partnership opportunities for sirexatamab and FL-501.

The company's shares were up more than 16% in recent premarket activity on Monday.

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