The American Society of Clinical Oncology, or ASCO, is currently having its annual meeting, in which companies and cancer drug developers share results from their most recent drug trials. The results released at this meeting can sometimes make or break companies.
24/7 Wall St. has taken a look at a few of the major ASCO winners so far. Color and background information has also been added on each, as well as how shares have been moving and the consensus price targets.
ImmunoGen Inc. (NASDAQ: IMGN) announced an objective response rate of 53% in its Phase 2 trial of mirevtuximab soravtansine. At the same time the majority of adverse events reported were low grade. Shares of ImmunoGen closed Friday down 0.4% at $8.98. In Monday’s early trading, shares were up about 47% at $13.26. The stock has a consensus analyst price target of $9.19 and a 52-week trading range of $5.34 to $14.38.
Oncothyreon Inc. (NASDAQ: ONTY) announced the presentation of positive data from the company’s ongoing trials of ONT-380, an orally active, reversible and selective small-molecule HER2 inhibitor for the treatment of breast cancer. Oncothyreon shares closed Friday up 0.9% at $3.42, in a 52-week trading range of $1.41 to $4.69. In early trading, shares were up about 17% at $4.01. The stock has a consensus analyst price target of $3.50.
Exelixis Inc. (NASDAQ: EXEL) announced positive results from its two-stage Phase 2 investigator sponsored trial evaluating cabozantinib in patients with advanced RET-rearranged lung cancers. Although the trial is still accruing, it has already met its primary endpoint, exceeding the predefined targeted number of five objective responses. Shares of Exelixis closed Friday up 0.6% at $3.15. In early trading, shares were up 8.2% at $3.41. The stock has a consensus analyst price target of $2.50 and a 52-week trading range of $1.26 to $4.55.
Vascular Biogenics Ltd. (NASDAQ: VBLT) announced interim results for its ongoing Phase 2 study of VB-111 in patients with recurring glioblastoma. Overall, the data presented showed a statistically significant overall survival benefit. Shares of Vascular Biogenics closed Friday up 9.1% at $8.05 to close out for a strong week. In early trading, shares rose 5% to $8.45. The stock has a consensus analyst price target of $13.00 and a 52-week trading range of $3.09 to $17.02.
Immunomedics Inc. (NASDAQ: IMMU) announced that among 49 patients with metastatic triple-negative breast cancer, evaluated for response to treatments with sacituzumab govitecan in a mid-stage clinical study, 31%, or 15 patients, showed a reduction in tumor size of 30% or more. Shares of Immunomedics closed Friday down 0.5% at $3.86 on a 52-week trading range of $3.08 to $5.48. In early trading Monday, shares were up about 3.6% at $4.00. The stock has a consensus analyst price target of $7.00.
CTI BioPharma Corp. (NASDAQ: CTIC) demonstrated in its study that improvement in key disease measurements and disease-related symptoms with pacritinib treatment compared to best available therapy, regardless of platelet levels at the time of enrollment. Shares of CTI closed Friday up 2.1% at $1.94. In Monday’s early trading, shares were up 20.3% at $2.33. The stock has a consensus analyst price target of $5.30 and a 52-week trading range of $1.65 to $3.23. CTI BioPharma was also in our top analyst upgrades and downgrades.
One key reminder should be made here: Presentations do not always lead to FDA approvals. It has been seen many times in years past that ASCO stock moves either reverse or can be just the start of something major. Also, 24/7 Wall St. has issued another ASCO winner list, 4 hidden or overlooked ASCO winners.