TrovaGene Inc (NASDAQ: TROV) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced updated results following a presentation at AACR.
As you could imagine, the positive data excited investors who are pushing the stock on a run for the top. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from TROV stock as a result; and
- what we’ll be watching for ahead.
TROV Stock Gains On Clinical Data
As mentioned above, Trovagene is having a great start to the trading session in the pre-market hours this morning after announcing data. The announcement came by way of press release early this morning.
In the release, the company provided additional data from its ongoing Phase 1b/2 clinical study, evaluating onvansertib in combination with standard-of-care chemotherapy in AML patients. In the release, the company said that the trial is now enrolling patients at the dose level of 60mg/m2, an increase of approximately 50%. These patients will also be treated with either LDAC or decitabine.
The move into the higher dose is the result of positive data from lower dose cohorts, both from a safety and tolerability standpoint and from the efficacy standpoint.
In the release, TROV said that the greatest anti-leukemic activity, to date, has been observed in the onvansertib + decitabine arm. 3 out of 6 of these patients at the highest dose levels have achieved a complete response.
It’s also worth mentioning that the first patient in the onvansertib + LDAC arm has also achieved a complete response at the highest dose level of 40mg/m2 of onvansertib.
In a statement, Dr. Thomas Adams, CEO and Chairman at TROV, had the following to offer:
We are pleased with the response to treatment that we are seeing with onvansertib, as well as how safe and well tolerated it appears to be in this difficult-to-treat relapsed or refractory patient population.
As we continue advancing our AML trial to identify the maximum tolerated dose (MTD) and recommended Phase 2 dose (RP2D), we look forward to sharing additional readouts on the efficacy and safety of onvansertib and the potential opportunity to bring a much-needed new treatment option to relapsed or refractory AML 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 company’s release of strong data and move to higher-dose cohorts show that the development of onvansertib is going well. 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 (9:00), TROV is trading at $4.27 per share after a gain of $0.67 per share or 18.61% 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. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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