APVO - Aptevo shares more than double in value on phase 1 data for its leukemia drug candidate
- Aptevo Therapeutics ( NASDAQ: APVO ) on Monday said it had achieved a 100% clinical benefit rate in a phase 1b trial evaluating a combination of its drug candidate APVO436 with cancer medications venetoclax and azacitidine for the treatment of patients with a type of leukemia.
- Shares of the micro-cap clinical-stage biotech rocketed 101.8% higher to $6.77 in premarket trading.
- The trial assessed the combination of APVO436 with venetoclax and azacitidine for venetoclax treatment naïve patients with acute myeloid leukemia (AML).
- The results of the early-stage trial were presented in a poster session at the American Society of Hematology Annual Meeting and Exposition in New Orleans, APVO said in a statement .
- According to APVO, the data from the trial showed APVO436 to be safe and well-tolerated and clinical active among AML patients in both combination and monotherapy regimens.
- The company said it now plans to start a mid-stage trial in H2 2023 to further evaluate APVO436 in frontline and relapsed/refractory AML patients who are venetoclax treatment naïve.
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Aptevo shares more than double in value on phase 1 data for its leukemia drug candidate