Loxo Oncology (LOXO) shares rocketed late Wednesday after the biotech company released data showing its experimental cancer treatment shrunk tumors in nearly 70% of patients regardless of where their cancers originated.
The drug called LOXO-292 works to correct mistakes in the RET gene. In all, 35 patients had what are known as RET fusion positive tumors, including 27 with advanced lung cancer, seven with papillary thyroid cancer and one with pancreatic cancer. Another 20 had medullary thyroid cancer with RET point mutations.
Of those with RET fusion positive tumors, 69% responded. Tumors shrank in 65% of patients with advanced lung cancer, and in 83% with papillary thyroid cancer. In medullary thyroid cancers, 79% responded. The data is current as of Jan. 5. Since then, they have improved, Loxo said in a news release.
Loxo released the data ahead of the American Society for Clinical Oncology meeting set for early June. Then, Loxo will unveil the improved data with a cutoff date in April.
Jounce Therapeutics Tumbles
Also late Wednesday, Jounce Therapeutics (JNCE) plummeted 27.8%, near 12.80. Jounce said is planning to unveil data from a combination of its drug JTX-2011 with Bristol-Myers Squibb‘s (BMY) Opdivo in a variety of cancers. Bristol shares rose 0.2%, near 52.30.
The Phase 1 and Phase 2 study is looking at the combination across four solid tumors including forms of stomach, breast, head and neck, and lung cancers.
Like Loxo, Jounce published an overview of data online that was current as of Jan. 27. Jounce said it will release updated results June 2. Preliminary data show JTX-2011 is well tolerated alone and in combination with Opdivo, the firm said in a news release.
It also “has demonstrated evidence of biologic activity and tumor reductions in heavily pre-treated patients who have failed all available therapies,” Jounce Chief Medical Officer Elizabeth Trehu said in a prepared statement.
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