NEW YORK, NY / ACCESSWIRE / June 5, 2018 / While shares of Deciphera skyrocketed yesterday and hit a new high on positive data results, shares of Jounce Therapeutics saw the opposite result on its own results. Deciphera climbed higher after announcing updated data from its ongoing Phase 1 clinical trial of DCC-2618. DCC-2618 is the company's broad-spectrum KIT and PDGFRα inhibitor recently. Jounce released preliminary results for its lead drug candidate JTX-2011's performance in a phase 1/2 study.
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Deciphera Pharmaceuticals, Inc.
Jounce Therapeutics, Inc.
Deciphera Pharmaceuticals, Inc. shares closed up 47.86% yesterday on nearly 1.9 million shares traded. The stock hit a new high of $38.43 during intra-day trading. It was recently that the clinical-stage biopharmaceutical company updated data from its ongoing Phase 1 clinical trial of DCC-2618. DCC-2618 is the company's broad-spectrum KIT and PDGFRα inhibitor, in patients with gastrointestinal stromal tumors(GIST). The data was presented at the American Society of Clinical Oncology (ASCO) Annual Meeting 2018. CEO Michael D. Taylor, Ph.D., commented, "The preliminary data presented today on DCC-2618's activity in second and third line GIST patients is very encouraging and supports the planned initiation later this year of our Phase 3 trial, INTRIGUE, in second line GIST patients. The mutational profiling data across second, third and fourth line GIST patients observed in the Phase 1 study also demonstrates the need for the broadest spectrum of KIT inhibition in all GIST patients who previously received imatinib." Chief Medical Officer Oliver Rosen, M.D. stated, "We are very pleased with the results presented today demonstrating DCC-2618's potential to provide improved clinical benefit for not only heavily pre-treated patients, but also for second and third line GIST patients. Combined with the tolerability data presented at AACR in April 2018, these results demonstrate the potential of DCC-2618 as an effective and well tolerated therapy for a wide range of GIST patients."
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Jounce Therapeutics, Inc. shares closed down almost 33.5% on Monday on significant trading volume compared to usual. The stock traded a little over 7 million shares compared to an average of about 570,000 shares. The big loss came after the company released preliminary results for its lead drug candidate JTX-2011's performance in a phase 1/2 study. Unfortunately, the drug was not successful in delivering robust patient responses either as a stand-alone treatment or in combination with Bristol-Myers Squibb's Opdivo against a range of solid tumor cancers. Chief Medical Officer of the company, Elizabeth Trehu, remarked, "We are encouraged by the early signal of clinical activity in heavily pre-treated patients, accompanied by an ICOS pharmacodynamic biomarker. We believe that this biomarker may help guide further development of JTX-2011. Importantly, JTX-2011 continues to be safe and well-tolerated both as a single agent and in combination with nivolumab. We look forward to continuing clinical evaluation of JTX-2011, including initiation of new combination dose escalation cohorts within the ICONIC trial of JTX-2011."
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