TESARO Inc (NASDAQ: TSRO) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced a clinical update surrounding the JASPER study, exciting investors who sent the stock screaming for the top. Today, we’ll talk about:
- The clinical update;
- what we’re seeing from TSRO as a result; and
- what we’ll be watching for ahead.
TSRO Climbs On Clinical Update
As mentioned above, TESARO is having an incredibly strong day in the market today after providing a clinical update. In a press release issued early this morning the company announced that it has initiated the second stage of the JASPER study. TSRO designed the JASPER study to assess the clinical benefit of ZEJULA® in combination with an anti-PD-1 antibody in first-line non-small cell lung cancer (NSCLC) patients.
In the release, the company said that the decision to advance the trial was based on the trial achieving the protocol defined response criteria in the initial cohort of 16 treated patients with PD-L1 expressions. Of the 16 patients, 14 were evaluable for a response. The company said that 9 of the 14 patients had objective responses by RECIST criteria at the time of the analysis and that all 14 patients saw a reduction in tumor burden. In a statement, Mary Lynne Hedley, Ph.D., President and COO of TSRO, had the following to offer:
These JASPER data provide preliminary evidence that the combination of ZEJULA and an anti-PD-1 antibody could be active as a first-line treatment for patients with non-small cell lung cancer and high levels of PD-L1 expression… In the second stage of the trial, 36 additional patients will be enrolled and treated with ZEJULA in combination with TSR-042, our anti-PD-1 antibody. TSR-042 is the foundation of our lung cancer strategy, and is also being studied as a monotherapy in our GARNET trial in anti-PD-(L)1 naïve patients who have progressed on chemotherapy, and in combination with TSR-022, our anti-TIM-3 antibody, in AMBER, a study in late-line NSCLC patients that have progressed after anti-PD-(L)1 therapy. We look forward to sharing lung cancer data from both GARNET and AMBER at the Society for the Immunotherapy of Cancer (SITC) Annual Meeting in November.
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 leads to moves. In the case of TESARO, the news proved to be overwhelmingly positive. With the strong results from first phase of the JASPER clinical trial and the movement into the second phase, the company has made a big leap in the development of the treatment. So, it comes as no surprise to see that excited investors are sending the stock screaming for the top in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:46), TSRO is trading at $37.22 per share after a gain of $4.10 per share or 12.38% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TSRO. In particular, we’re interested in following the story surrounding the company’s continued work to bring ZEJULA to market. Nonetheless, we’ll continue to keep an eye on the news and bring it to you as it breaks!
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