TrovaGene Inc (NASDAQ: TROV) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that it has entered into an agreement with AstraZeneca. Of course, this is leading to excitement among investors, causing gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:03), TROV is trading at $0.97 per share after a gain of $0.16 per share or 20.16% thus far today.
TROV Gains On Agreement With AZN
As mentioned above, TrovaGene is having a strong day in the market today after announcing that it has reached an agreement with AstraZeneca. The agreement surrounds the Trovera® urine ctDNA biomarker test and services.
The Trovera® test is a liquid biopsy test that will be initially used in an open label perspective biomarker study. The study is designed to evaluate whether the combined use of noninvasive testing is as effective as tissue testing in identifying epidermal growth factor receptor T790M mutation status. In a statement, Bill Welch, CEO at TROV, had the following to offer…
“We’re pleased to partner with AstraZeneca and to have our urine liquid biopsy test included in a trial designed to explore new and non-invasive ways to detect if patients have this EGFR mutation and may be appropriate for specific treatment options… This agreement marks a major milestone for Trovagene”
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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 watching to see if the collaboration with AZN works into a revenue generating opportunity. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks.
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