The Clear Reason Why Stemline Therapeutics Inc. Skyrocketed as Much as 33%

The Clear Reason Why Stemline Therapeutics Inc. Skyrocketed as Much as 33%

Shares of Stemline Therapeutics (NASDAQ: STML), a small-cap clinical-stage biotechnology company with a focus on developing medicines to treat cancer, skyrocketed as much as 33% during Tuesday's trading session after reporting positive results from its pivotal midstage study involving lead drug SL-401.

As announced before the opening bell, the company's interleukin-3 receptor (CD123) targeted therapy for the treatment of blastic plasmacytoid dendritic cell neoplasm (BPDCN) met the primary endpoint of its three-stage phase 2 study. More specifically, in the third of three stages, the results showed that seven of 13 (54%) first-line BPDCN patients demonstrated a complete response, with an overall response rate of 77% (10 of 13 patients). Of the seven patients with a complete response, six of them remained relapse-free at the five- to eight-month mark.

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Source: Fool.com