Shares of the clinical-stage cancer specialist Five Prime Therapeutics (NASDAQ: FPRX) gained a stately 312% over the course of November, according to data from S&P Global market Intelligence . The drugmaker's shares blasted higher last month in response to positive mid-stage trial data for its novel stomach cancer candidate known as bemarituzumab.
Bemarituzumab, as a first-line treatment for fibroblast growth factor receptor 2b-positive (FGFR2b+) stomach cancer, is thought to be capable of generating combined U.S. and EU sales in the range of $700 million per year, according to Cowen analyst Boris Peaker. When adding other high-value markets like China into the picture, the drug's first indication could therefore be worth over $1 billion a year in revenue. That's quite a potential haul for a company with a market cap of $651 million at present.
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Why Five Prime Therapeutics Stock Gained 312% in November