Ambrx Surges 570% After Reporting Positive Results From Phase 2 Trial Of ARX788

Ambrx Biopharma Inc. (AMAM) shares climbed more than 570 percent on Friday morning after the clinical-stage biopharmaceutical company announced positive preliminary data from its Phase 2 ACE Breast-03 study evaluating ARX788 in HER2 positive metastatic breast cancer patients.

The study demonstrated 51.7 percent overall response rate by RECIST v1.1 and 100 percent disease control rate in HER2 positive metastatic breast cancer patients who are resistant or refractory to T-DM1.

Currently, shares are at $2.75, up 570.89 percent from the previous close of $0.40 on a volume of 45,444,385.

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