TrovaGene Inc (NASDAQ: TROV) is making a run for the top in the market this morning, gaining more than 60% early on. The gains come after the company provided updated data from a trial assessing their lead oncology compound. Here’s what’s going on:
TROV Stock Rockets On Positive Data
In a press release issued early this morning, TrovaGene announced psitive data from a Phase 1b/2 clinical trial. Through the trial, the company is assessing the safety and efficacy of Onvansertib in combination with FOLFIRI and Avastin.
The goal is that this combination treatment will show promise in second-line treatment of KRAS-mutated metastatic colorectal cancer.
In the release, TROV said that the treatment led to decreases in tumor KRAS mutational burden across all four patients who completed their first cycle of therapy. This result was measured by quantitative analysis of circulating tumor DNA.
In a statement, Dr. Thomas Adams, CEO and Chairman at TROV, had the following to offer:
We are pleased by the early indication of response to treatment with the addition of onvansertib to standard-of care in patients with KRAS-mutated mCRC. We believe the combination of onvansertib and FOLFIRI/bevacizumab has the potential to provide a much-needed safe and effective new treatment option for the approximately 50% of patients with KRAS-mutated mCRC.
The above statement was followed up by lead investigator, Dr. Afsaneh Barzi with:
Although still early in the trial, we are encouraged by the decreases in KRAS, assessed following initial dosing with onvansertib in combination with FOLFIRI/ bevacizumab, in patients treated in the first cohort. Additionally, these patients have continued on treatment beyond the cycle 1 safety assessment, indicating that the regimen appears to be safe and well tolerated. These initial findings suggest that onvansertib may provide clinical benefit for mCRC patients who have limited therapeutic options and a poor prognosis.
Why Investors Are So Excited
At the end of the day, data is released quite often. However, it doesn’t always lead to gains of more than 60%. So, what’s the deal? Here’s why investors are so excited about the news:
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