Celsion Corporation (NASDAQ: CLSN) is having an overwhelmingly strong morning in the pre-market this morning, and for good reason. The company announced news with regard to the clinical study known as OVATION. Of course, this led to excitement among investors who have sent the stock skyrocketing. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:04), CLSN is trading at $2.59 per share after a gain of $0.56 per share (27.59%) thus far today.
CLSN Updates Investors On OVATION
As mentioned above, Celsion Corporation is having an overwhelmingly strong start to the trading session today after providing an update with regard to its Phase 1b dose escalating clinical trial known as OVATION. In the trial, the company combined GEN-1, an IL-12 gene-mediated immunotherapy, with neoadjuvant chemotherapy. Ultimately, the combination treatment is designed for newly-diagnosed patients with Stage III or IV ovarian cancer.
In the update, CLSN announced that it has completed enrollment in the study. Also, the last patient in the 4th dose cohort has completed their GEN-1 treatment, giving the Data Safety Monitoring Board the ability to evaluate the safety of the treatment. This news comes shortly after the company released positive efficacy data at the ASCO 2017 annual meeting. In a statement, Dr. Nicolas Borys, SVP and CMO at CLSN, had the following to offer:
“We have seen promising clinical findings including objective responses (CR and PR) in all patients at the highest dose cohort along with an 87.5% rate of RO (margin-negative) resections in the two highest dose cohorts and a 100% rate of RO resections in the highest dose cohort at time of debulking surgery. Additionally, translational research data presented at ASCO demonstrates that GEN-1 is biologically active, producing beneficial cytokines and positively impacting T-cell population in the tumor… We believe that GEN-1 may be stimulating the immune system to improve tumor control in these patients. We are currently evaluating the most cost-effective development program to continue our clinical evaluation of GEN-1 in subsequent ovarian cancer studies.”
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 be keeping an incredibly close eye on CLSN. In particular, we’re interested in the ongoing work surrounding the GEN-1 treatment. We’ll continue to follow the story closely and bringing 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!