TrovaGene Inc (NASDAQ: TROV) is off to an incredible start to the trading session this morning, and for good reason. The company issued a PR informing investors of an agreement that will drive revenue. Of course, this led to excitement among investors, prompting gains in the value of the stock. As is almost always the case, our partners at Trade Ideas were the first to alert us to the movement. At the moment (10:05), TROV is trading at $1.22 per share after a gain of $0.27 per share or 28.75% thus far today.
TROV Gains On ctDNA Agreement
As mentioned above, TrovaGene is having an incredibly strong day in the market thus far today following the issuance of a press release. In the release, investors learned that the company has entered into an agreement with a worldwide, premier biopharmaceutical company. Under the agreement, TROV will provide Trovera® urine circulating tumor DNA (ctDNA) biomarker tests and services.
As a result of this agreement, TROV will be providing urine and blood biopsy tests. These tests will be used to assess and monitor mutation status in clinical trials of potential first-in-class or best-in-class oncology therapeutics that are currently under development. In a statement, Bill Welch, CEO at TROV, had the following to offer…
“We’re pleased to have our liquid biopsy tests included in the clinical trials with a leading biopharmaceutical company and to participate in their development of transformative therapies to improve the lives of cancer patients worldwide… This agreement follows a separate, recent announcement of our collaboration with AstraZeneca and demonstrates the value of our Trovera® biomarker technology.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TROV. In particular, we’re interested in following the company through the ongoing work surrounding the Trovera® biomarker tests. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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