Nurix Therapeutics (NRIX) posted a "clear win" in leukemia treatment on Monday, but the biotech stock gave up some of its gains, giving up a potential breakout.
The company tested its treatment, dubbed NX-5948, in patients with relapsed or refractory forms of chronic lymphocytic leukemia, or CLL. Refractory means the cancer didn't respond to prior treatment, and Nurix noted the patients were "heavily pretreated," having received two to 14 previous drugs.
Overall, 69.2% of patients responded to the oral treatment. Some showed responses as early as eight weeks into treatment. Those responses deepened over time, Nurix said in its news release.
Needham analyst Gil Blum said the results are a "clear win" for the biotech stock and the drug class. Nurix's approach degrades a protein called BTK. Doing so blocks defective B cells, which can drive cancers like CLL and B-cell lymphomas.
"These results are striking given the heavily pretreated nature of patients," Blum said in a report. "We are highly encouraged by the robustness of these results and consider them potentially best in class."
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