Kite Pharma (KITE) Stock: Gaining Big On Positive Clinical Data

Kite Pharma Inc (NASDAQ: KITE)

Kite Pharma is having a pretty strong start to the morning in the pre-market trading hours this morning, and for good reason. The company released overwhelmingly positive clinical data, exciting investors and causing the stock to rise in a big way. As a result, our partners at Trade Ideas alerted us to the movement. At the moment (9:01), KITE is trading at $82.50 per share after a gain of $4.01 per share (5.11%) thus far today.

KITE Releases Positive Clinical Data

As mentioned above, Kite Pharma is having a strong start to the day today after announcing two plenary presentations of positive data. The data comes from the primary analysis of ZUMA-1 surrounding its lead CAR-T candidate known as axicabtegen cioleucel. The treatment is designed for patients with refractory aggressive B-cell non-Hodgkins lymphoma.

In the announcement, investors learned that the study did indeed meet its primary endpoint, which was proving an objective response rate after a single infusion of axicabtagene ciloleucel. The objective response rate came in at 82%. In the study 111 patients were enrolled. Out of those patients 101 were successfully treated with axicabtagene ciloleucel. In a statement, Jeff Wiezorek, M.D., Senior Vice President of Clinical Development at KITE, had the following to offer:

We are excited to present the data from the primary analysis of ZUMA-1 at AACR. Close to half of patients treated remained in response, which represents a remarkable result in this heavily treated population with refractory aggressive NHL who previously faced a dismal outlook… We believe the rates of CRS and neurologic events decreased over the course of the study as clinicians gained experience in the management of adverse events. Biomarker analysis advances our understanding of product characteristics and immune signatures associated with clinical outcomes and provides us further opportunity to potentially improve the safety profile.”

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on KITE. In particular, we’ll be following the company’s ongoing work with regard to axicabtagene ciloleucel, as the treatment is starting to look promising. We’ll continue to follow the story closely and bring the news to you as it breaks!

What Do You Think?

Where do you think KITE is headed moving forward? Join the discussion in the comments below or on StockTwits!

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