Asterias Biotherapeutics Inc (NYSEAMERICAN: AST) is flyign early on in the market this morning, and for good reason. The company announced a positive clinical update, exciting investors who sent the stock screaming for the top. Today, we’ll talk about:
- The clinical update;
- what we’re seeing from AST as a result; and
- what we’ll be watching with regard to the stock ahead.
AST Announces Clinical Data
As mentioned above Asterias Biotherapeutics is having an incredibly strong start to the trading session this morning after the company announced positive clinical data. In a press release issued early this morning, the company announced that the Safety Review Committee (SRC) for the first clinical trial of AST-VAC2, held a scheduled meeting to review the safety and tolerability data generated in the first patient enrolled.
In the release, AST announced that the SRC recommended continuation of the study as well as the company moving to parallel enrollment of the second and third patients in the advnaced cancer cohort as planned per the study’s protocol. During the study, the company is working to assess the safety and tolerability of AST-VAC2 in non-small cell lung cancer (NSCLC). Secondary and tertiary endpints of the study include evaluations of the immunogenicity of the treatment. In a statement, Dr. Edward Wirth, CMO at AST, had the following to offer:
Based on its review of all available study data after five doses in the first patient, the Safety Review Committee’s recommendation to continue the trial without modification reaffirms our belief that AST-VAC2 is safe and well-tolerated… The committee concluded that the trial can proceed as planned per protocol – an important step as we continue the clinical development of AST-VAC2.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes the moves. In the case of Asterias, the news proved to be overwhelmingly positive. After all, study continuation means that the company is now one step closer to the ultimate goal of commercializing the AST-VAC2 treatment. So, it’s no surprise to see that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:14), AST is trading at $1.75 per share after a gain of $0.20 per share or 12.90% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to follow AST closely. In particular, we’re interested in following the development of AST-VAC2 as the treatment is generating promising results thus far. Nonetheless, it’s important that we are still very early in the first phase. We’ll continue to follow the story closely and bring the news to you as it breaks!
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