Leap Therapeutics Inc (NASDAQ: LPTX) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced news that it would be entering into a collaboration, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The collaboration news;
- what we’re seeing from LPTX stock as a result; and
- what we’ll be watching for ahead.
LPTX Heads Up On Collaboration News
As mentioned above, Leap Therapeutics is having a strong start to the trading session this morning after news broke of a collaboration. In various reports across the web, news is breaking that the company has entered into a collaboration agreement with Merck KGaA, and Pfizer. According to the reports LPTX, Merck and Pfizer will all work together to evaluate the company’s GITR agonist, TRX518, in combination with avelumab, a human anti-PD-L1 IgG1 monoclonal antibody and chemotherapy.
The reports start the the company will soon be conducting a Phase I/II clinical trial in advanced solid tumors. The trial will include expansion populations in patients with relapsed or refractory ovarian, breast, and prostate cancers and is expected to begin enrolling patients in the
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news causes moves. In the case of LPTX, the news proved to be overwhelmingly positive. After all, the collaboration with Merck and Pfizer further validates the company’s work with regard to TRX518. So, it only makes sense that excited investors are sending the stock up in the market this morning. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:47), LPTX is trading at $8.75 per share after a gain of $0.48 per share or 5.80% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on LPTX. In particular, wer’e interested in following the story surrounding the company’s continued work with regard to TRX518, especially following the news of the collaboration. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!