ALX Oncology Holdings Inc (NASDAQ:ALXO) saw its stock value double in pre-market trading on the heels of promising interim data from a phase II study assessing the potential of its lead asset in cancer of the stomach and esophagus.
The ASPEN-06 clinical evaluated the effectiveness of evorpacept in treating patients with HER2-positive gastric and gastroesophageal junction (GEJ) cancer.
The interim analysis revealed that patients receiving evorpacept in combination with other cancer drugs had a 52% overall response rate.
This was a significant improvement compared to the 22% response rate observed in the control group, which did not receive evorpacept.
Furthermore, the median duration of response for the ALX treatment arm has not yet been reached, suggesting that the drug's effectiveness could be long-lasting.
Ahead of the bell, the stock was up $5.08 at $9.89.