Stocks To Watch: TrovaGene, Inc [NASDAQ: TROV] was a big gainer in Tuesday’s trading session, as the stock gained by 80.63% to close the day at $1.79. This followed the company’s announcement that it had recorded a positive response to treatment in patients with KRAS-Mutated Metastatic Colorectal Cancer.
In trials, patients recorded a decrease in tumor KRAS mutation in response to treatment with the TrovaGene’s Phase 1b/2 trial of Ovansertib, when combined with Folfria/Avastin. There was a decrease in tumor KRAS in all four patients that took part in the initial cycle of the combined treatment regimen.
According to the company CEO, Dr. Thomas Adams, TrovaGene believes that the combination of Ovansertib and FolFIRI/Bevacizuma could potentially provide a safe and effective treatment for patients with KRAS-mutated mCRC. It is a big deal considering that 50% of mCRC patients develop KRAS mutations and existing therapy is limited in terms of survival.
TrovaGene experienced a huge surge in volumes in Tuesday’s session. In the day, 51.14 million shares of TROV traded hands. The stock was quite volatile. It opened the day at $1.62, and traded between $1.50 and $2.44 before closing the day at $1.79. In pre-market trading, TROV has eased up a little bit, and is down by 12.19% to trade at $1.57. This is expected, as traders take profit after such a big move in price.
About TrovaGene Inc
TrovaGene is a clinical-stage oncology company. It develops drugs for the treatment of multiple types of cancer that include Lymphomas and Leukemia. The company’s lead drug candidate is called Ovansertib, a trial drug for the treatment of metastatic colorectal cancer. TrovaGene has its headquarters in San Diego, California.