TrovaGene Inc (NASDAQ: TROV) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company recently announced that it would be providing a clinical update and that this update would be coming this morning. So, it’s not surprise to see excited investors pushing the stock up ahead of the update. Today, we’ll talk about:
- The clinical update;
- what we’re seeing from TROV as a result; and
- what we’ll be watching for with regard to the stock ahead.
TROV To Provide A Clinical Update
As mentioned above, Trovagene is having an incredibly strong start to the trading session this morning. While the company hasn’t released any news yet, we’re just minutes away from a catalyst. That’s because, on October 18th, the company said that it will be providing an update on the Onvansertib clinical program via live conference call at 8:30 today. During the call, TROV will be providing key data from an ongoing Phase 1b clinical trial in Acute Myeloid Leukemia and metastatic Castration-Resistant Prostate Cancer.
In the release, TROV said that the advancement in development of Onvansertib is continuing on track. The treatment is a first-in-class, 3rd generation, oral and highly selective Polo-like Kinase 1 (PLK1) inhibitor. At the moment, the company is working to bring the treatment to patients with various forms of leukemias, lymphomas and solid tumor cancers. The conference call that will start just minutes from now will outline the status of all supported clinical studies as well as provide an update on partnering and collaborations.
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 it’s important to keep an eye on the news. After all, the news leads to moves. In the case of TrovaGene, the news is just around the corner and investors are excited for what they’re about to learn. So, it comes as no surprise to see that the excitement is leading to gains in the value of the stock. At the moment (8:03), TROV is trading at $1.09 per share after a gain of $0.07 per share or 6.86% 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 patients in need. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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