Biotech stocks can produce massive wins.
Especially if they come up with potential game-changers in health.
Look at Ambrx Biopharma (AMAM), for example. On Friday, the stock exploded 1,007% on volume of 123.7 million shares, as compared to the daily average volume of 2.01 million shares.
All after the company produced positive results from the mid-stage testing of its breast cancer drug, ARX788. According to Tip Ranks, “In Phase 2 ACE‑Breast-03 study, which took place in the U.S., Korea, and Australia, the drug was assessed as a treatment for HER2-positive mBC (metastatic breast cancer) patients who are resistant or refractory to T-DM1. The preliminary results showed a 51.7% overall response rate (ORR) and a 100% disease control rate (DCR) following treatment with ARX788. Additionally, no drug-related serious adverse events (SAEs) were noted by any patients.”
While encouraging, we have to remember that these results are preliminary and that it’s still a mid-stage trial. From here, Phase 3 data is still required to see just how well it can work. Should we continue to see solid results from its studies, the stock could run again.
“This preliminary safety and efficacy data in a heavily pretreated population further reinforces our view of the stability and precision underlying Ambrx’s proprietary drug-linker and site-specific conjugation technology for ADC design,” said Daniel O’Connor, Chief Executive Officer of Ambrx. “Our unique approach offers highly differentiated biologic design so that we can work towards providing better outcomes for patients with difficult-to-treat cancers.”
