TrovaGene Inc (NASDAQ: TROV) is making a run for the top in the market this morning, gaining nearly 7% in the premarket. The gains come after the company announced that it presented positive data from a Phase 1b/2 clinical trial. Here’s what’s happening:
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TROV Announces Data Presentation
In a press release issued early this morning, Trovagene announced that it presented positive results from its Phase 1b/2 study of onvansertib. The study assessed the treatment in patients with relapsed or refractory acute myeloid leukemia (AML).
The data was presented in an oral plenary session at the 2019 European Society for Medical Oncology Conference on September 28th.
In the release, TROV said that the presentation highlighted the favorable safety profile and clinical efficacy of the treatment. Moreover, the presentation provided correlative biomarker data from the recently completed Phase 1b trial.
If you would like to view the presentation, click here.
In a statement, Dr. Mark Erlander, CSO at TROV, had the following to offer:
We continue to be encouraged by our biomarker data which indicates a correlation between biomarker positive patients and their response to treatment with onvansertib. As we move forward, we plan to further develop the biomarker assay to enable us to proactively identify patients who are most likely to respond to treatment.
3 Reasons This News Is Sending The Stock Soaring
Ultimately, the news today proved to be overwhelmingly positive for Trovagene. You can see this by taking a look at the action on the stock. Here are three reasons why investors are so excited about the news.
Reason #1: Positive Data
First and foremost, the data that came out of the trial proved to be overwhelmingly positive. In the trial, Onvansertib was given to patients in combination with standard-of-care chemotherapy.
The data showed that patients tolerated the treatment well. Moreover, the treatment proved to be safe. Importantly, the data also showed that the combination treatment led to anti-leukemic activity that appears to be sustainable over time.
Ultimately, that hits all three nails squarely on the head. After all, the goal of any clinical trial is to prove that the assessed treatment is safe, well tolerated and effective.
Click below to read the second reason that this is such positive news for TROV.