ARAV stock is hitting a multi-year high after Aravive Inc (NASDAQ:ARAV) reported positive data from a Phase 1b clinical trial evaluating its lead candidate AVB-500 in platinum-resistant ovarian cancer.
This morning, the company released highly positive data with regards to its lead candidate AVB-500, which is meant for the treatment of ovarian cancer that is resistant to platinum. The data was gathered from the Phase 1b clinical trial, and the encouraging findings have resulted in a massive rally in ARAV stock this morning.
The product managed to meet both the primary endpoints in this phase of the study, and hence, the rally in the stock is not at all surprising. The Chief Scientific Officer at the company spoke about the developments and also the significant of AVB-500 as a medicine:
“The improvements in progression-free survival with AVB-500 bodes well for future studies where that will be the primary endpoint measured to support regulatory filing.”
At the time of writing, ARAV stock has rocketed by as much as 105% at $13.70 and has definitely emerged as the stock to watch for today.
One of the most important takeaways from the study was the fact that the medicine also demonstrated the capability of forecasting anti-tumor activity. As a matter of fact, this was one of the primary endpoints that had to be fulfilled, and the fact that AVB-500 managed to meet it is an important development for all concerned. The majority of the patients who participated in this particular clinical study had been administered 10 mg/kg every week.
On the other hand, patients who had been exposed to medicine also demonstrated a rise in the duration of response. Overall, the clinical study has proven to be a success for Aravive, and the developments with regards to the medicine should be tracked closely by investors.
ARAV stock made a new high of $15.62 earlier in today’s session.
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