Why Kite Pharma Inc (KITE) Stock Is Flying High Today

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Kite Pharma Inc (NASDAQ:KITE) stock was up today following the release of positive results for its leukemia drug.

Why Kite Pharma Inc (KITE) Stock Is Flying High TodayThe data concerns Kite Pharma Inc’s KTE-C19. The leukemia drug was used in the Phase 1 ZUMA-3 trial. This trial saw the drug being administered to adults with “high burden relapsed/refractory acute lymphoblastic leukemia.”

The Phase 1 study of Kite Pharma Inc’s leukemia drug saw 73% of patients experience complete remission. This also includes patients with incomplete or partial recovery of bone marrow. All of the responders tested negative for minimal residual disease.

“The majority of adult patients diagnosed with ALL will experience disease relapse and subsequently face a poor prognosis,” David Chang, Executive Vice President of Research and Development, and Chief Medical Officer for Kite Pharma Inc, said in a statement. “We are encouraged by the results from the ZUMA-3 trial to date in this extremely difficult-to-treat patient population. Before launching a pivotal Phase 2 study, we plan to optimize the cell dose of this potentially life-saving therapy for patients with significant unmet need.”

The Phase 1 ZUMA-3 trial included 11 patients. These patients were treated with two different dosage levels of KTE-C19. Both doses were tolerable and there were no dose-limiting toxicities discovered in the study.

Kite Pharma Inc is already making plans for the second phase of its ZUMA-3 trial. The biopharmaceutical company says that it plans to start the Phase 2  ZUMA-3 trial sometime in 2017.

KITE stock was up 4% as of Wednesday afternoon and is up 78% year-to-date.


Article printed from InvestorPlace Media, https://investorplace.com/2017/06/kite-pharma-inc-kite/.

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