Immunomedics is having a great day in the market today after announcing results from a phase 2 study that looked into the effectiveness of the company’s lead investigational antibody drug. Today, we’ll take a look at the data from the phase 2 study, talk about how the market reacted, and discuss what we can expect to see moving forward. So, let’s get right to it…
Immunomedics Climbs On Sacituzumab Govitecan Data
IMMU announced data from the phase 2 study looking into sacituzumab govitecan. According to the company’s release, the lead investigational antibody drug conjugate continues to produce durable responses in patients with metastatic lung cancer who have relapsed or were refractory to their last cancer therapy. The study was conducted with 57 patients who are currently suffering with metastatic lung cancer, non-small-cell and small-cell, 28 and 29 patients respectively. The study doses ranged from 8 to 18 mg/kg doses given on days 1, 8 and 21. Treatment responses in lung cancer patients who were administered doses of less than 12 mg/kg was assessed by computed tomography using the rules set by the Response Evaluation Criteria In Solid Tumors. In the most common type of lung cancer 6 out of 19 patients achieved an objective response. In small cell lung cancer, 6 out of 20 patients achieved an objective response. In the 10 mg/kg cohorts, the objective response rates in both non small cell and small cell lung cancer came in at 3 out of 10. Following the release of the data, Cynthia L. Sullivan, President and CEO of Immunomedics had the following to say…
“Based on these compelling results, we consider both NSCLC and SCLC to be of primary interest, along with triple negative breast, esophageal, urothelial and colorectal cancers, for further study with sacituzumab govitecan… Updated results in these other solid cancers are expected at future national and international cancer conferences…”
How IMMU Reacted To The News
As mentioned above, Immunomedics is having a great day in the market today. After all, they released positive data with regard to their lead candidate; anything but positivity would be unacceptable at this point. Currently (2:02), the stock is trading at $2.31 per share after a gain of 7.33% so far today.
What We Can Expect To See Moving Forward
Moving forward, I have a relatively positive opinion of what we can expect to see from IMMU. The company’s lead candidate seems to be doing well in clinical trials which will likely lead to profits in the long run. However, it’s important to remember that price movements in the market tend to happen through a series of overreactions. Therefore, we can expect to see slight declines tomorrow as IMMU corrects from the highs we’re seeing today. Nonetheless, in the long run, things are looking great for the stock.
What Do You Think?
Where do you think IMMU is headed and why? Let us know in the comments below!