TrovaGene Inc (NASDAQ: TROV) is having an incredibly strong start to the trading session this morning after announcing key news with regard to a clinical trial. Today, we’ll talk about the news that was released, what we’re seeing from TROV, and what we’ll be watching for ahead.
TROV Releases Clinical Trial News
As mentioned above, TrovaGene is having an incredibly strong start to the trading session this morning after releasing news surrounding a key clinical trial. The company announced that it has activated the second clinical trial site for its Phase 1b/2 multicenter trial surrounding PCM-075. PCM-075 is being developed for the treatment of patients with Acute Myeloid Leukemia, also known as AML. The trial site was activated with Virginia Piper Cancer Institute and Principal Investigator Dr. Michaela Tsai.
Through the clinical trial, TROV is working to evaluate the safety of PCM-075 in combination with other low-dose cytarabine or decitabine in subjects as well as to identify a maximum tolerated dose. The company is also measuring safety and preliminary efficacy of the treatment. In a statement, Bill Welch, CEO at TROV, had the following to offer:
“PCM-075 is the first highly PLK1-selective competitive inhibitor administered orally to enter clinical trials with potential activity in both hematologic and solid tumor cancers… We are excited to have Virginia Piper Cancer Institute as one of our key trial sites and ready to screen and enroll subjects in our PCM-075 AML trial.”
The above statement was followed up by Dr. Michaela Tsai, Medical Oncologist in Minneapolis, Minnesota affiliated with Abbott Northwestern Hospital and North Memorial Medical Center. Here’s what she had to say about the TROV trial:
“As the only accredited cancer research program in the Twin Cities, we are pleased to be able to offer this promising new drug candidate to our AML patients through our participation in this important clinical trial… Through this Phase 1b/2 clinical trial, we look forward to gaining insight into the safety, tolerability and initial efficacy of PCM-075.”
How The Stock Is Reacting To The News
As investors, we know that when news breaks, it tends to move the market. With the positive news surrounding TrovaGene, it’s no surprise that we’re seeing strong gains in the value of the stock. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:27), TROV is trading at $0.26 per share after a gain of $0.01 per share (4.24%) 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 work with PCM-075, and we’re looking forward to checking out the results down the road. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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