Leap Therapeutics (NASDAQ:LPTX) stock is on the move today following an update from the biotechnology company. Its focus is on developing targeted and immuno-oncology therapeutics and we’ve seen shares trending higher throughout the week following positive study results.
What Happened With LPTX Stock?
Leap Therapeutics released positive results from a Phase 2a clinical trial evaluating the use of its anti-Dickkopf-1 (DKK1) antibody, DKN-01, in combination with tislelizumab, on Monday. It stacked this data gainst BeiGene Ltd.’s anti-PD-1 antibody and chemotherapy for treating patients suffering from gastric or gastroesophageal junction cancer. Leap Therapeutics presented extra data from that clinical trial today at the European Society for Medical Oncology Congress.
What It Means
Samuel Klempner, MD, Member of the Faculty at Massachusetts General Hospital Cancer Center and Harvard Medical School said the following about the results.
“Initial data from this trial have shown that patients with high levels of DKK1 expression, a group with a poor prognosis, had encouraging responses to treatment. The additional data presented today show evidence that not only is DKK1 a critical biomarker in predicting response to DKN-01 and tislelizumab therapy, but also that the combination can induce deep responses regardless of the patient’s PD-L1 status, including particularly poor prognosis patients with both low PD-L1 and high DKK1.”
What’s Next for LPTX Stock?
Leap Therapeutics could continue to see its shares rise as it dives further into the results of its clinical trial. The company is holding a conference call at 8:00 a.m. Eastern Time on Friday to discuss the study. Its executive management team, as well as Dr. Jaffer Ajani of M.D. Anderson Cancer Center, and Dr. Samuel Klempner of Massachusetts General Hospital, will be on the call.
LPTX stock was up 26.9% as of Thursday morning.
We’ve got more stock market news to look into below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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