TrovaGene Inc (NASDAQ: TROV) is having an incredibly strong start to the trading session this morning, and for good reason. The company issued new data, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The new data;
- what we’re seeing from TROV stock as a result; and
- what we’ll be watching for ahead.
If you’re not familiar with TROV, read my full report on the stock here!
TROV Announces New Data
As mentioned above, Trovagene is having an incredibly strong start to the trading session this morning after announcing new data. The announcement came by way of press release early this morning.
In the release, the company announced preclinical data that evaluated the effect of combining onvansertib with venetoclax in an AML cell model known to be resistant to venetoclax. TROV said that the combination demonstrated synergy with a significant decrease in tumor cell viability.
The data further supports the company’s ongoing onvansertib clinical development program in patients with relapsed/refractory AML. At the moment, there are limited options for this devastating condition.
In a statement, Dr. Mark Erlander, CSO at TROV, had the following to offer:
We investigated the combination of onvansertib and venetoclax in a cell model, with known resistance to venetoclax, given that venetoclax as a single agent had previously shown a relatively low response rate of approximately 19% in relapsed/refractory AML.
We believe the positive results of our preclinical study provides the scientific rationale for clinical investigation of this combination regimen and may lead to a new treatment option for these patients.
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. When it comes to Trovagene, the news proved to be overwhelmingly positive.
After all, the strong data further validates the work that the company has been doing with Onvansertib. Should the treatment be approved, it would be a much needed option in the treatment of AML and could prove to be overwhelmingly valuable.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:47), TROV is trading at $4.38 per share after a gain of $1.11 per share or 33.94% 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 TROV. In particular, we’re interested in following the story surrounding the company’s continued work to bring Onvansertib to market as the data continues to show promise. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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