Imunon (NASDAQ:IMNN) stock is rocketing higher on Tuesday as the clinical-stage company releases data from a Phase 2 clinical trial of IMNN-001.
This is the company’s treatment candidate for patients with advanced ovarian cancer. Results from the Phase 2 OVATION 2 Study showed an 11.1-month increase in the overall survival rate for newly diagnosed patients.
On top of that, the clinical trial also included a hazard ratio of 0.74 in the intent-to-treat population (ITT). That indicates a 35% improvement in survival.
Stacy Lindborg, Ph.D., president and CEO of Imunon, said the following about the results:
“These strong and clinically meaningful Phase 2 results are highly encouraging, suggesting that IMNN-001 may improve the outcomes for women with advanced ovarian cancer. In the near term, we look forward to advancing our therapeutic into a Phase 3 pivotal study as soon as possible.”
What This Means for IMNN Stock Today
This news is acting as a catalyst for heavy trading of IMNN shares on Tuesday. That has more than 36 million shares of the company’s stock changing hands as of this writing. To put that in perspective, Imunon’s daily average trading volume is well below that at 103,000 shares.
IMNN stock is up 258.5% as of Tuesday morning.
There are plenty of other stock market stories traders will want to read about today!
We have all of that news ready to go with our stock market coverage for Tuesday! That includes everything happening with shares of Ekso Bionics (NASDAQ:EKSO) stock, QXO (NASDAQ:QXO) stock and Enveric Biosciences (NASDAQ:ENVB) stock today. All of that info is ready to go at the links below!
More Stock Market News for Tuesday
- Why Is Ekso Bionics (EKSO) Stock Down 15% Today?
- Why Is QXO (QXO) Stock Down 80% Today?
- Why Is Enveric Biosciences (ENVB) Stock Up 18% Today?
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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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
