Verastem Inc (NASDAQ: VSTM) is having an overwhelmingly strong day in the market today after the company announced top-line data from a key Phase 3 clinical trial. Of course, the positive data release led to excitement among investors, causing the stock to skyrocket and prompting our friends at Trade Ideas to send the alert. Currently (10:43), VSTM is trading at $4.98 per share after a gain of $1.14 per share (29.69%) thus far today.
VSTM Gains On Clinical Data
As mentioned above, Verastem is having an overwhelmingly positive day in the market today after the company released data from the Phase 3 DUO study. The study was designed to evaluate the efficacy and safety of duvelisab, which is a first-in-class oral dual inhibitor of phosphoinositide 3-kinase (PI3K)-delta and PI3K-gamma in patients with relapsed or refractory chromic lymphocytic leukemia as well as small lymphocytic lymphoma.
In the release, VSTM said that the primary endpoint was reached. This endpoint was progression-free survival as determined by the Independent Review Committee. The study proved that oral duvelisib monotherapy showed clinical superiority over ofatumamab, an approved standard of care for patients working through these cancers.
VSTM said that the treatment achieved a statistically significant improvement of median progression-free survival of 13.3 months, compared to 9.9 months for ofatumamab with a hazard ratio of 0.52. That represents a 48% reduction in risk of ailment progression or death. In a statement, Ian Flinn, MD, PhD, Director of the Blood Cancer Research Program at Sarah Cannon Research Institute and the Lead Investigator of Verastem’s DUO study, had the following to offer:
“Although the treatment of CLL/SLL has advanced in recent years, there remains a substantial unmet need with many patients progressing or relapsing following the available therapies… These positive results from the randomized DUO study demonstrate that duvelisib prolongs progression-free survival (PFS with a manageable safety profile in patients with relapsed or refractory CLL/SLL, including in high risk patients with the 17p deletion. For our patients with CLL/SLL, and for the physicians who treat them, a convenient, oral monotherapy that is taken at home would be a valuable addition to the treatment landscape.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on VSTM. In particular, we’re interested in following their ongoing work with regard to duvelisib, as the company will push for approval following these positive results. We’ll continue to follow the story closely and bring the news to you as it breaks!
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