Corvus Pharmaceuticals Inc (NASDAQ: CRVS) is surging higher Friday on abnormally high volume. The stock might be trading higher following favorable data results by AstraZeneca PLC (NASDAQ: AZN) for patients with unresectable, stage 3 non-small cell lung cancer.
The average session volume over a 100-day period is about 300,000. Friday's session volume was approaching 120 million at publication time.
AZN News: AstraZeneca announced that "the COAST Phase II trial showed oleclumab, an anti-CD73 monoclonal antibody, or monalizumab, an anti-NKG2A monoclonal antibody, in combination with Imfinzi (durvalumab) improved progression-free survival and objective response rate compared to Imfinzi alone in patients with unresectable, Stage III non-small cell lung cancer who had not progressed after concurrent chemoradiation therapy."
The results may be positively impacting Corvus Pharmaceuticals, which has a CD73 asset in its pipeline.
Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company engaged in developing drugs and antibodies that target the most critical cellular elements of the immune system.
CRVS Price Action: Corvus Pharmaceuticals has traded as high as $5.74 and as low as $1.86 over a 52-week period.
The stock was up 72.60% at $3.90 at time of publication.
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