Janssen, the pharmaceutical arm of Johnson & Johnson (NYSE:JNJ), just released some encouraging news for some patients suffering from non-small cell lung cancer. The company’s clinical trial to test a potent drug combination yielded encouraging results. Consequently, JNJ stock held steady despite somewhat turbulent market conditions this morning.
As Alexander Spira, CEO and Clinical Director of NEXT Oncology Virginia, explained, “Patients with relapsed/refractory non-small cell lung cancer with [epidermal growth factor receptor] mutations currently have few treatment options.” Fortunately, Janssen is working diligently to develop a combination therapy to treat this specific condition.
This combination therapy involves two drugs, amivantamab and lazertinib, along with chemotherapy. Janssen’s version of amivantamab is called Rybrevant.
Janssen just released new findings regarding this combination therapy. The company plans to present these findings at a conference in Austria, but some positive results have already been released.
Reportedly, after a median follow-up period of 7.1 months, the method yielded an overall response rate of 50%, with 15 out of 20 patients staying on treatment. Moreover, the study saw no evidence of new safety signals or additional toxicity.
What’s Happening with JNJ Stock?
Relative to the stock market overall, Johnson & Johnson’s shareholders were largely in a good mood. This morning, the S&P 500 was down 0.75% and the Nasdaq was down 1.4%. Meanwhile, JNJ stock was up 0.7%.
So, overall it appears Johnson & Johnson’s investors are fairly pleased with the aforementioned clinical data. A response rate of 50% might not sound very impressive to some observers. However, it’s a step in the right direction as Janssen makes progress in combating a hard-to-treat disease.
Spira, at the very least, remains hopeful. He is “optimistic about future study to improve outcomes” for this group of non-small cell lung cancer patients. Already, Janssen is recruiting patients for an upcoming Phase 3 clinical trial in relation to this disease. It’s exciting to witness Janssen’s progress in this area, and JNJ stock holders should continue to monitor closely for new developments.
On the date of publication, David Moadel 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.
