TROV stock is one of the biggest biotech stock gainers this morning after TrovaGene Inc (NASDAQ:TROV) reported positive results from its Phase 1b/2 study of onvansertib.
Companies in the therapeutics space strive for producing treatments for some of the most difficult health conditions in people, and any positive development about products in the pipeline is always welcome. Clinical stage oncology therapeutics company TrovaGene today made a major announcement with regards to its medicine that is meant for the treatment of relapsed/refractory acute myeloid leukemia (AML)—and the news has helped TROV stock.
The medicine in question is onvansertib, and the company presented the data from its Phase 1b/2 study at the European Society for Medical Oncology Conference (ESMO) held in Barcelona, Spain this past Saturday. The presentation made at the event stressed the effectiveness of the product as well as the safety that it provides to the patients.
In addition to that, TrovaGene also released correlative biomarker data from the tests, and that proved to be another significant positive overall.
At the time of writing, TROV stock is up 22% at $1.80.
The Chief Scientific Officer of the company, Dr. Mark Erlander spoke about the significance of the biomarker data: “We continue to be encouraged by our biomarker data which indicates a correlation between biomarker positive patients and their response to treatment with onvansertib.”
The company is already preparing for the next stage of testing that will be even more vital for the future of onvansertib and one that it needs to definitely get right. The medicine in question has to be consumed orally and has a half-life of around 24-hours.
TrovaGene has announced that it is going to recruit a total of 32 patients for the Phase 2 study of the medicine. Only patients who have completed at least a single cycle of treatment with onvansertib are going to be used for this particular phase of testing.
This is an important update from the company, and it remains to be seen what sort of effect the latest presentation ends up having on TROV stock going forward.
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