How 6 ASCO Biotech Winners Are Focusing on the Future of Cancer

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The American Society of Clinical Oncology (ASCO) had its annual meeting this past week. In this meeting, companies and cancer drug developers shared results from their most recent drug trials. The results released at this meeting have the potential to make or break companies. Generally speaking, there are quite a few movers that come from this event.

24/7 Wall St. has taken a look at some of the major ASCO winners over the past week and how they have performed since before the ASCO news. Color and background information have also been added on each, as well as how shares have been moving and the consensus price targets.

ImmunoGen Inc. (NASDAQ: IMGN) announced at the ASCO conference 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. In Friday’s trading, shares were up 0.3% at $14.70. Over the course of the week, shares rose 63.6% from the close on Friday, May 29. The stock has a consensus analyst price target of $10.60 and a 52-week trading range of $5.34 to $15.88.

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Exelixis Inc. (NASDAQ: EXEL) released 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 were up 2.1% at $3.35 on Friday. Over the course of the week shares rose 5.7% from the close on Friday, May 29. The stock has a consensus analyst price target of $2.50 and a 52-week trading range of $1.26 to $4.55.

Oncothyreon Inc. (NASDAQ: ONTY) presented 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 were Friday up 2.0% at $4.09, in a 52-week trading range of $1.41 to $4.69. Over the course of the week, shares rose 18.1% from the close on Friday, May 29. The stock has a consensus analyst price target of $4.33.

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 were up 7.2% at $4.34 on Friday, within a 52-week trading range of $3.08 to $5.48. Over the course of the week, shares rose 11.4% from the close on Friday, May 29. 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 were down 1.9% at $2.05 on Friday. Over the course of the week, shares rose 4.6% from the close on Friday, May 29. The consensus price target is $5.25 and a 52-week range of $1.65 to $3.23.

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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 were up 0.7% at $7.50 on Friday. Over the course of the week, shares retreated about 13% from the close on Friday, May 29. The stock has a consensus analyst price target of $13.00 and a 52-week trading range of $3.09 to $17.02.