NEW YORK, NY / ACCESSWIRE / October 8, 2018 / GTx Inc. was seeing big gains on Friday despite any news. The company had recently saw its shares collapse on news that its only drug candidate had failed a mid-stage clinical trial. Shares of TrovaGene Inc. were also in the green despite any news on Friday, but it was last week that the company announced it had entered into an exclusive patent license agreement with the Massachusetts Institute of Technology.
RDI Initiates Coverage on:
GTx, Inc.
https://rdinvesting.com/news/?ticker=GTXI
TrovaGene, Inc.
https://rdinvesting.com/news/?ticker=TROV
GTx, Inc. shares closed up 35.46% on almost 50 million shares traded on Friday. Average trading volume for the stock is just a little over 1.7 million shares. There was no news from the company to explain the gains but recently shares had slid over 90% on news that its only drug candidate failed a mid-stage clinical trial. Enobosarm, being evaluated as a potential treatment for stress urinary incontinence for post-menopausal women, did not meet its primary endpoint in a phase 2 trial. "We are very disappointed that the ASTRID Trial did not achieve its primary endpoint," said Robert J. Wills, Ph.D., Executive Chairman of GTx. He added, "We plan to conduct a full review of all the data. We want to thank the patients, physicians, study coordinators and the entire GTx team for their support of this novel study. We have an ongoing preclinical program assessing the potential of SARDs, our novel selective androgen receptor degrader technology, to treat castration-resistant prostate cancer. We are currently on target to have development candidates by year end, which we potentially plan to take into IND-enabling studies."
Access RDI’s GTx, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=GTXI
TrovaGene, Inc. shares closed up nearly 21% on Friday with almost 14 million shares traded. It was last week that the clinical stage oncology therapeutics company had announced that it had entered into an exclusive patent license agreement with the Massachusetts Institute of Technology (MIT). As part of the agreement, Trovagene has exclusive rights to develop combination therapies that include anti-androgen or androgen antagonist and a Polo-like Kinase (PLK) inhibitor for the treatment of cancer. Dr. Michael Yaffe, Director, MIT Center for Precision Cancer Medicine, and David H. Koch Professor in Science, Professor of Biological Engineering, and member of the Koch Institute for Integrative Cancer Research commented, "There is a need for new therapies that effectively treat cancers that depend on internal androgen signaling, such as castration-resistance prostate cancer, as well as cancers which overexpress androgen receptor (AR), or are otherwise dependent on the synthesis of steroid hormones for their growth, such as some breast cancers. We are excited to see that our in-vitro and in-vivo preclinical research, demonstrating a unique synergistic effect with the combination of PLK inhibitors and anti-androgens, has culminated in a Phase 2 trial of Onvansertib in combination with Zytiga® (abiraterone acetate) for the treatment of metastatic Castration-Resistant Prostate Cancer (mCRPC), which is being conducted by the Harvard Medical Cancer Centers." TrovaGene Executive Chairman, Dr. Thomas Adams, stated, "We are excited about this patent license agreement, as well as our ongoing collaboration and research with Dr. Yaffe and his team at MIT."
Access RDI’s TrovaGene, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TROV
Our Actionable Research on GTx, Inc. (NASDAQ: GTXI) and TrovaGene, Inc. (NASDAQ: TROV) can be downloaded free of charge at Research Driven Investing.
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