Oncothyreon Inc (NASDAQ:ONTY)
Oncothyreon is having an incredibly strong start to the trading session today, and for good reason. The company recently announced the presentation of clinical data with regard to its lead candidate. Today, we'll talk about the announcement, how the market reacted to the news, and what we can expect to see from ONTY moving forward. So, let's get right to it...
ONTY Announces Presentation Of Clinical Data
As mentioned above, Oncothyreon is having an incredibly strong day in the market today after announcing the presentation of clinical data associated with its lead product candidate. The candidate is ONT-380, a drug currently being developed with metastatic breast cancer. According to the company, the treatment showed incredibly promising results with regard to both safety and efficacy in a phase 1b study in patients who were preciously treated with trastuzumab and taxane. The full details of the trial results will be offered through a presentation at the 52nd of the American Society of Clinical Oncology. In a statement, Luke Walker, M.D., vice president of clinical development at ONTY had the following to offer...
“These results continue to demonstrate the potential of ONT-380 in the treatment of HER2+ breast cancer... The early evidence of system activity, combined with a favorable safety profile and encouraging activity against brain metastases, is supportive of further development for this combination.”
The above statement was followed up by a statement from Scott Myers, President and CEO at ONTY. Here's what he had to say...
“Our internal team and advisors believe that these data are very intriguing and that the T-DM1 combination warrants further exploration... However, given current resources and the development requirements in this setting, we will pursue this combination in cooperation with others or develop ourselves at a later date. Going forward, we remain focused on advancing our ongoing Phase 2 'Triplet' trial with ONT-380 in combination with capecitabine and trastuzumab.”
How The Market Reacted To The News
As investors, one of the first things that we learn is that the news moves the market. Any time there is positive news offered with regard to a publicly traded company, we can expect to see gains in the value of the company as a result. Adversely, when negative news is released, we can expect to see declines. In this particular case, the news that was released was overwhelmingly positive. The lead candidate at Oncothyreon is proving to be a strong one. As a result, we're seeing strong gains in the value of the stock today. Currently (9:37), ONTY is trading at $1.30 per share after a gain of $0.17 per share or 15.05% thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from ONTY. The reality is that while the company is a clinical stage biotechnology company, the work it is doing seems to be incredibly fruitful. With the strong phase 1b clinical trial results, Oncothyreon will be moving forward with phase 2, and will likely generate positive results there as well. All in all, it seems as though ONTY is on the right path toward growth.
What Do You Think?
Where do you think ONTY is headed moving forward?