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TrovaGene News: Why TROV Stock Is Skyrocketing Today

William White

Recent TrovaGene news continues to have TROV stock flying high for the second day in a row.

TrovaGene News: Why TROV Stock Is Skyrocketing Today
TrovaGene News: Why TROV Stock Is Skyrocketing Today

Source: Shutterstock

What has TrovaGene (NASDAQ:TROV) stock up today is its earnings report for the fourth quarter of 2018. The company released this earnings report after the markets closed on Wednesday. Included in the earnings report was an update concerning its drug onvansertib.

Here’s what was said by Chairman and CEO Dr. Thomas Adams in the TrovaGene news release.

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“Our AML trial continues to advance and data shows that the combination of onvansertib and standard-of-care chemotherapy is demonstrating both a favorable safety profile and showing activity in greater than 88% of evaluable patients treated to-date, which is very encouraging. In January, we received a ‘study may proceed’ notification from the FDA for our Phase 1b/2 trial in mCRC and expect that enrollment in this trial, which is being funded by PoC Capital, will begin mid-year.”

The positive TrovaGene news concerning onvansertib resulted in the stock increasing by about 31% on Thursday. It looks like this positive momentum is still carrying the stock to higher levels today.

The rest of the TrovaGene news release includes losses per share of $1.09 on revenue of $78,000 for the fourth quarter of the year. Wall Street was looking for losses per share of $1.05 during the quarter, but this didn’t keep TROV stock down at all.

TROV stock was up 74% as of Friday afternoon.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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