Leap Therapeutics Inc (NASDAQ: LPTX) is making a run for the top this morning, and for good reason. The company announced the presentation of Phase 2 data at an annual meeting of minds in women’s cancer.
As you could imagine, the news excited investors, pushing the stock on a run for the top. Today, we’ll talk about:
- The data presentation;
- what we’re seeing from LPTX stock as a result; and
- what we’ll be watching for ahead.
LPTX Is Rocketing On Clinical Data
As mentioned above, Leap Therapeutics is having an incredibly strong day in the market today after announcing the presentation of clinical data. The announcement came by way of press release early this morning.
In the release, the company said that it presented Phase 2 clinical trial data at the Society of Gynecologic Oncology 50th Annual Meeting on Women’s Cancer. The trial that produced the data was focused on DNK-01 as a treatment for patients with advanced gynecological malignancies.
LPTX said that patients, including those with carcinosarcoma and Wnt pathway alterations, have experienced partial responses and durable clinical benefit. These results have been seen in both monotherapy and combination arms of the study.
In the releas, the company said that the complete data set will become available in the coming months as the most recently enrolled patients have not yet been evaluated.
In a statement, Rebecca C. Arend, M.D., Ph.D., Department of Obstetrics and Gynecology at the University of Alabama at Birmingham School of Medicine, had the following to offer:
We are very pleased with the single agent and combination activity of DKN-01 in this heavily pre-treated population. Allowing patients to achieve partial responses and durable stable disease with a favorable safety profile reflects meaningful clinical benefit.
With the rapid enrollment of this study since the beginning of the year, we are looking forward to robust data maturing during the year.
The above statement with regard to the data released by LPTX was followed up by Dr. Michael Birrer, Director of the Comprehensive Cancer Center at the University of Alabama at Birmingham. Here’s what he had to say:
It is encouraging to see the mechanism-based strategy of enriching the study with patients with Wnt pathway alterations lead to impressive clinical outcomes.
We are also particularly interested in the early activity in carcinosarcoma patients, who are in need of new and better treatment options.
What We’re Seeing From The Stock
One of the first lessons that we learn as investors is that the news moves the market. When it comes to Leap Therapeutics, the news proved to be incredibly positive. The data released and presented by the company shows that its DNK-01 candidate is progressing well through development.
As you could imagine, the news excited investors who are pushing the stock for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:29), LPTX is trading at $2.62 per share after a gain of $0.36 per share or 16.22% 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 LPTX. In particular, we’re interested in following the story surrounding the company’s continued work to bring DNK-01 to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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