Here's Why Ignyta Stock Soared as Much as 27.5% Today
Shares of pre-revenue biopharma Ignyta (NASDAQ: RXDX) jumped over 27% Wednesday morning after it announced promising interim results from an ongoing phase 2/3 clinical trial investigating the potential of its lead drug candidate, entrectinib, to treat patients with a rare type of lung cancer.
Entrectinib demonstrated a 69% overall response rate in patients with the disease, and even demonstrated effectiveness in shrinking tumors in the brain, where the rare lung cancer often metastasizes. It was also well-tolerated, with mild side effects and only 3% of patients discontinuing treatment due to toxicity-related issues.
As of 1:09 p.m. EDT, the stock had settled to a 12.1% gain.
Source: Fool.com