Peregrine Pharma (NASDAQ: PPHM)
Peregrine Pharma is having an incredible day in the market today, and for good reason. The company said that it would be releasing top line data from a key clinical trial relatively soon. Today, we’ll talk about when and where the data will be released, what we know so far, how the market reacted to the news, and what we can expect to see from PPHM moving forward. So, let’s get right to it…
PPHM Gains As Investors Await Data
As mentioned above, Peregrine Pharma is having an incredible day in the market today after announcing that it would be presenting top-line data soon. The data in question comes from the Phase III SUNRISE trial of bavituximab in patients with previously treated locally advanced or metastatic non-squamous non-small cell lung cancer (NSCLC) will be presented as a late-breaking oral presentation at the upcoming European Society for Medical Oncology 2016 congress.
According to the announcement, the data that will be released will include a biomarker in the SUNRISE trial that correlated with a statistically significant improvement in overall survival for patients treated with bavituximab in combination with docetaxel compared to patients treated with docetaxel alone. PPHM also said that it would be filing a new patent application directed to the use of the biomarker prior to the presentation of the results. In a statement, Steven W. King, President and CEO at PPHM had the following to offer…
“I want to start by thanking the patients, investigators and scientists involved in the SUNRISE trial that have made possible the continuing collection and analysis of important data from the study. While the current interim analysis is still ongoing, it is exciting to already see that a biomarker associated with positive outcomes for patients receiving the combination of bavituximab with docetaxel has been identified. In the evolving cancer therapeutic space, a biomarker identification is playing an increasing critical role in guiding clinical development strategies and trial designs.. It is important to note that we are undertaiking a broad biomarker analysis effort as part of the SUNRISE trial and this initial set of data is just the first of what we hope will be several findings that will help guide the bavituximab clinical program going forward. We look forward to presenting results from this ongoing analysis effort at the ESMO 2016 Congress, as well as other medical conferences as the additional data becomes available.”
How The Market Reacted To The News
As investors, one of the first things that we learn is that the news moves the market. Any time positive news is released with regard to a publicly traded company, we can expect to see gains in the value of the company as a result. Adversely, when negative news is released, we can expect to see declines. In the case of PPHM, the news that was released was overwhelmingly positive. So naturally, we’re seeing strong gains in the stock today. Currently (12:08), the stock is trading at $0.44 per share after a gain of $0.06 per share or 15.51% thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from Peregrine Pharma. With today’s news, we learn a bit more about the clinical trial surrounding bavituximab, and what we’re learning is great. All in all, it seems as though PPHM is making the right moves at the right times… I’m expecting to see gains ahead!
What Do You Think?
Where do you think PPHM is headed moving forward? Join the discussion in the comments below!