LEV - Why Is Athenex (ATNX) Stock Up 44% Today?
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Athenex (NASDAQ:ATNX) stock is rocketing higher on Tuesday thanks to positive results from a high-risk early-stage breast cancer clinical trial.
The Phase 2 study covers the use of the company’s oral paclitaxel plus encequidar in combination with a PD-1 inhibitor and carboplatin. Those results include less neuropathy as well as an increase in febrile neutropenia.
Athenex doesn’t go into incredible detail about the Phase 2 clinical trial result. However, the company does say it intends to present further data from the trial during upcoming national meetings. It expects these to take place in the second quarter of 2023.
Comments on the ATNX Stock News
Dr. Johnson Lau, CEO of Athenex, said the following about the study results.
“We are very pleased that the Oral Paclitaxel combination regimen graduated from this prestigious program which has brought exciting and innovative treatments to neoadjuvant breast cancer patients. This study confirms our finding of less neuropathy for Oral Paclitaxel compared to intravenous paclitaxel in our metastatic breast cancer study.”
With today’s news comes heavy trading of ATNX stock. As of this writing, more than 111 million shares of the company’s stock have changed hands. That’s a massive surge over its daily average trading volume of about 1.2 million shares.
ATNX stock is up 44.1% as of Tuesday afternoon but is down 87.9% since the start of the year.
There’s still plenty more stock market news that traders will want to know about today!
Fortunately, InvestorPlace has them covered with our deep dives into the market for Tuesday! That includes what’s happening with shares of Bed Bath & Beyond (NASDAQ:BBBY), Nio (NYSE:NIO), and Lion Electric (NYSE:LEV). You can check out more at the following links!
More Tuesday Stock Market News
- BBBY Stock Alert: Bed Bath & Beyond Is in a Cash Crunch
- NIO Stock Alert: Nio Responds to Data Leak
- Why Is Lion Electric (LEV) Stock Up Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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