Why Cancer-Focused ALX Oncology Stock Gained Over 100% Today?
Portfolio Pulse from Vandana Singh
ALX Oncology Holdings Inc released interim Phase 2 data from its ASPEN-06 trial of evorpacept for HER2-positive gastric cancer, showing a 52% overall response rate. The results compare favorably to the efficacy reported for Eli Lilly's Cyramza. The trial included patients previously treated with AstraZeneca's Enhertu and Merck's Keytruda. ALXO plans to report the final analysis in Q2 2024 and initiate Phase 3 in late 2024. ALXO shares gained over 100% in premarket trading.
October 03, 2023 | 12:58 pm
News sentiment analysis
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NEGATIVE IMPACT
Eli Lilly's Cyramza was outperformed by ALX Oncology's evorpacept in a Phase 2 trial.
The news that ALX Oncology's evorpacept outperformed Eli Lilly's Cyramza in a Phase 2 trial could negatively impact investor sentiment towards Eli Lilly.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
AstraZeneca's Enhertu was used in the treatment of patients in ALX Oncology's Phase 2 trial.
While AstraZeneca's Enhertu was used in the treatment of patients in ALX Oncology's Phase 2 trial, the news does not directly impact AstraZeneca's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Merck's Keytruda was used in the treatment of patients in ALX Oncology's Phase 2 trial.
While Merck's Keytruda was used in the treatment of patients in ALX Oncology's Phase 2 trial, the news does not directly impact Merck's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
ALX Oncology's positive interim Phase 2 data led to a surge in its stock price.
The positive interim Phase 2 data from ALX Oncology's ASPEN-06 trial has significantly boosted investor confidence, leading to a surge in the company's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100