logo
Plus   Neg
Share
Email

Stock Alert: Immunomedics Soars As Cancer Drug Study Halted Due To Efficacy

Shares of Immunomedics Inc. (IMMU) doubled on Monday's morning trade after the company said it is halting a Phase 3 trial of breast cancer drug due to "compelling evidence of efficacy."

Immunomedics' shares are currently trading at $19.01, up $9.61 or 102.23%, on the Nasdaq.

Immunomedics is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer.

Sacituzumab govitecan is the company's lead drug candidate. The drug is in development for metastatic triple-negative breast cancer (mTNBC) advanced urothelial cancer (UC) and metastatic non-small cell lung cancer.

Immunomedics said its Phase 3 ASCENT study will be halted due to compelling evidence of efficacy. This decision was based on the unanimous recommendation by the independent Data Safety Monitoring Committee, during its recent routine review of the ASCENT study.

ASCENT is a Phase 3 confirmatory study designed to validate the promising safety and efficacy data of sacituzumab govitecan observed in a Phase 2 study of heavily pretreated patients with metastatic TNBC. The primary endpoint for the study is progression-free survival, and secondary endpoints include overall survival and objective response rate, among others.

In a separate statement, Immunomedics said it has appointed Harout Semerjian as President and Chief Executive Officer and as a member of the Board, effective April 16, 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The New York Times announced its plans to relocate its Hong Kong-based digital news operation to South Korea's Seoul, amid uncertainty following China's tough national security law for the semi-autonomous city. The news organization cited the possible impact of Beijing's new security law to the city's prospects as a hub for journalism in Asia. Search giant Google, Inc. announced Wednesday that it signed an agreement to invest $4.5 billion or 33,737 crore Indian rupees in India's Jio Platforms Ltd, taking a 7.73 percent stake in the company, pending regulatory review in India. This investment by Google values Jio Platforms at an equity value... U.S. Bancorp (USB) reported second quarter earnings per share of $0.41, compared to $1.09, a year ago. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $0.22, for the quarter. Analysts' estimates typically exclude special items. Net income attributable...
Follow RTT