TrovaGene Inc (NASDAQ: TROV) shares, which had been on a downtrend since early April, reversed course in mid-August.
From an intraday low of $1.30 on April 14, the stock bounced back and rallied to a high of $3.12 on Monday — a trough-to-peak gain of 140%.
What Drove The Upside
The strong gains came on the back of an announcement from TrovaGene on Thursday, Aug. 15 regarding the presentation of new data from a Phase 2 trial of onvansertib in combination with Zytifa in metastatic castration-resistant prostate cancer, or MCRPC.
The data is set to be presented in an oral moderated poster session at the 20th Asia-Pacific Prostate Cancer Conference at 1 p.m. Australian eastern daylight time on Saturday, Aug. 24.
Source: Y Charts
TrovaGene is developing onvansertib as part of a combination regimen across a variety of cancers and integrating a predictive clinical biomarker strategy to identify patients who are most likely to respond to the treatment.
It is running two Phase 2 trials for onvansertib combo therapies: one in combination with low-dose cytarabine or decitabine for acute myeloid leukemia , and another in combination with Zytiga for mCRPC.
Early Phase 2 data presented at the American Association of Cancer Research in April showed that an early prostate-specific antigen, or PSA, response was observed with the addition of onvansertib to daily abiraterone in two of six patients, with 1 patient achieving the efficacy endpoint of disease control and a 30% decrease in tumor size by RECIST criteria.
"Both patients that showed an early response (at C1D8) with decreases in PSA levels, also tested positive for AR-V7, a highly aggressive androgen receptor variant, which is resistant to Zytiga because it no longer needs androgen for tumor growth," the company said.
Trovagene shares fell 10.49% to $2.56 in Wednesday's session.
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