Veru (NASDAQ:VERU) stock is doing well on Monday after announcing positive results from a Phase 2 clinical trial.
Here’s what investors need to know about the VERU stock news.
- The study has to do with enobosarm, a drug from the company designed to treat breast cancer.
- This drug is an androgen receptor (AR) targeting agent for treating endocrine and chemotherapy-resistant metastatic breast cancer.
- Veru notes that 85% of all breast cancers include estrogen receptor (ER).
- Of those that do, more than 90% of them contain AR.
- The goal of the drug is to focus on the AR instead of the ER.
- This allows it to treat breast cancer without some of the negative side effects of ER targeting drugs.
- According to the Veru news release, results from the Phase 2 clinical trial show a significant effect from enobosarm.
- The trial had the drug being used to treat women and turned in clinically meaningful clinical benefit rates of 32% and 29% for the 9mg and 18mg daily doses.
- The drug was also well tolerated by patients.
Dr. Carlo Palmieri, Professor of Translational Oncology and Consultant Medical Oncologist, Clatterbridge Cancer Centre NHS Foundation Trust/University of Liverpool, UK., said this about the results boosting VERU stock.
“This Phase 2 study confirms that targeting the androgen receptor with enobosarm results in clinical efficacy. Furthermore, enobosarm was well tolerated as evidenced by improvement in quality of life. These results clearly support the further clinical development in a Phase 3 study of enobosarm for the treatment of metastatic endocrine resistant breast cancer.”
Veru isn’t the only company seeing a jump in its stock lately after posting positive breast cancer news. Arvinas (NASDAQ:ARVN) rocketed higher today on its own results. There were also positive results from Greenwich LifeSciences (NASDAQ:GLSI) and Immutep (NASDAQ:IMMP) last week.
VERU stock was up 52.2% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.