ATNX - Why Athenex Stock Is Up Today
Shares of Athenex (NASDAQ: ATNX) are up by 7.5% as of 12:43 p.m. EDT on Tuesday, after rising by as much as 20.4% earlier today. The market is reacting to Athenex announcing that the FDA has accepted its New Drug Application (NDA) for oral paclitaxel and encequidar for the treatment of metastatic breast cancer.
Paclitaxel is a chemotherapy drug that is typically administered intravenously. Athenex's oral paclitaxel has, however, shown promise in clinical studies in combination with encequidar. In a pivotal clinical trial, oral paclitaxel with encequidar showed a statistically significant improvement in overall response rate (the percentage of patients whose cancer is reduced or disappears completely after treatment) compared to paclitaxel alone (administered intravenously) in metastatic breast cancer patients.
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