Starting the day at $22.08, the clinical-stage biotechnology company Celcuity Inc. (NASDAQ: CELC) watched its intraday high rise to $24.25 in last session. During Friday’s trading session, Celcuity stock also registered a low of $19.04 but concluded the day at $21.60 rising 50.94%.
On Friday, CELC stock recorded a higher trading volume than its average daily volume in the past 30 days. Compared to the average daily volume of 288.52K, CELC stock traded on Friday for 15.8M shares. Due to a phase-1b trial for cancer treatment which provided encouraging data, the CELC stock rose on the day.
What were the findings of the study?
Cercuity is a clinical-stage biotechnology company pursuing a comprehensive approach to companion diagnostic and therapeutic intervention for cancer patients. In form of CELsignia, CELC has created a diagnostic platform that uniquely identifies new groups of patients likely to benefit from targeted therapies using live patient tumor cells. A CELsignia CDx can help make existing targeted therapies more potent in new applications.
The preliminary data of an ongoing Phase 1b clinical trial conducted by Celcuity on 103 patients was announced on Friday.
- The CELC clinical trial examined whether gedatolisib, a first-in-class PI3K/mTOR inhibitor, works with endocrine therapy in advanced breast cancer patients with either ER+/HER2- status.
- CELC’s thematic study found that 53 of the 88 evaluable patients (60%) in that study exhibited an objective response by the January 11, 2021 data cut-off date.
- Most treatment-related adverse events were of Grade 1 or 2, including those associated with Gedatolisib.
- CELC found the two most common Grade 3 or 4 TRAEs to be stomatitis and rash associated with gedatolisib.
CELC has achieved what?
This Phase 1b preliminary trial is showing promising results for GEDATOLISIB in patients with breast cancer. Considering the importance of addressing resistance to endocrine therapy, the CELC-researched study presented the best response rate and observed tolerability profile to date. Develop a therapeutic like gedatolisib will allow Celcuity (CELC) to more fully utilize its CELsigia platform and its cellular analysis capabilities.