Tesaro Inc (TSRO) Stock Soars 100% on Ovarian Cancer Drug Results

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Tesaro Inc (NASDAQ:TSRO) just made investors lucky enough to get in yesterday rich … but investors often show a bit too much exuberance.

Tesaro Inc (TSRO) Stock Soars 100% on Ovarian Cancer Drug ResultsIndeed, TSRO stock is up 100%-plus out of the gate Wednesday morning after reporting that its drug niraparib “significantly improved progression-free survival” in patients with ovarian cancer. Basically, Tesaro’s wonder drug managed to effectively slow ovarian tumor growth.

The benefits are clear, as 85% of patients are at risk of their ovarian cancer returning, and TSRO’s PARP inhibitor represents a brand new type of drug for battling cancerous tumors.

According to the press release issued by the company, the “Nova” trial represents the first “successful prospectively designed Phase-3 trial of a PARP inhibitor.” The double-blind study tested the drug on more than 500 patients with ovarian cancer receiving “platinum-based” chemotherapy.

Niraparib’s success positions it to potentially become the first treatment approved by the Food and Drug Administration for treating recurrent ovarian cancer patients undergoing platinum chemo.

Tesaro has yet to file for approval, which it plans to do in the U.S. and Europe during the fourth quarter.

President and COO of Tesaro, Mary Lynne Hedley, Ph.D., had this to say:

“The results of this study, which is the first successful, prospectively designed, randomized, well-controlled Phase 3 study of a PARP inhibitor, demonstrate that a single, daily, oral dose of niraparib is superior to control in prolonging PFS in women with recurrent ovarian cancer.”

“PFS” being the “progression-free survival” referenced earlier. As Matthew Herper at Forbes put it, such a phrase is a bit misleading as the risk of the BRCA mutation-driven cancer progressing was reduced by 73%, while the risk of progression dropped by 62% in patients who were homologous recombination deficient positive.

Comprehensive results of the trial will be published in October at the European Society for Medical Oncology.

As of this writing, John Kilhefner did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/06/tsro-tesaro-stock-ovarian-cancer-treatments-parp-inhibitor/.

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