Tuesday , 5 March 2024
Home Uncategorized Cancer drug firms soar as positive clinical trial data ignites investor excitement
Uncategorized

Cancer drug firms soar as positive clinical trial data ignites investor excitement

https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2022/06/931/523/ALL_CUSTOM_FS_LOCAL_NEWS_IL_GENERAL.png?ve=1&tl=1

Shares of several cancer drug firms surged on Monday after the companies reported positive clinical trial data from their therapies at an ongoing industry conference in Chicago.

Day One Bio, Immunogen Inc, Evaxion Biotech A/S and G1 Therapeutics Inc rose after presentations at the ongoing annual American Society of Clinical Oncology (ASCO) meeting.

ImmunoGen Inc’s experimental drug, Elahere, to treat a type of ovarian cancer showed 35% reduction in the risk of tumor progression or death compared to chemotherapy in a late-stage study.

A William Blair note issued on Monday was titled “Practice-Changing Data Elevate Elahere to Global Stage”. The drugmaker’s shares rose nearly 7% to $15.36.

FDA TO SCRUTINIZE UNPROVEN CANCER DRUGS AFTER 10-YEAR GAP

Illinois Fox News graphic

Following the release of positive clinical trial data at an ongoing industry conference in Chicago, several cancer drug companies experienced a surge in their stock prices on Monday. (Fox News)

CLICK HERE TO GET THE FOX NEWS APP

Shares of Day One surged 14% to $15.5 after the company’s experimental therapy for a type of brain tumor significantly reduced tumor in 67% of patients aged over 6 months to 25 years in a mid-stage study.

Shares of Evaxion rose 5.4% to $1.55 after the smaller drug developer said its vaccine to prevent a type of skin cancer met safety goals in an early-stage study.

Another small biotech company, G1 Therapeutics, rose 7.25% to $2.81 after its experimental drug to treat a type of breast cancer increased immune response generating T cell function and removed any residues of the invasive cancer in a mid-stage study.

On the other hand, Arcus Biosciences Inc fell nearly 9% to $19.13 after updated data on its experimental lung cancer showed a lower benefit in cutting the risk of disease progression, compared to earlier data from a mid-stage trial.

Shares of Blueprint Medicines Corp fell 9.4% to $52.76 after analysts flagged potential safety issues about its experimental drug to treat a type of lung cancer.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

North Korea threatens military action in response to joint US-South Korean military drills

Join Fox News for access to this content Plus special access to...

Greek authorities rescue 100 migrants found in vessel off southern mainland

ATHENS, Greece (AP) — Greek authorities on Monday rescued 100 migrants found...

St. Vincent to deport 3 men suspected in yacht hijacking, US couple’s disappearance

Three men from Grenada suspected in the disappearance of a U.S. couple...

Gangs in Haiti try to seize control of main airport in newest attack on key government sites

PORT-AU-PRINCE, Haiti (AP) — Heavily armed gangs tried to seize control of...