By Connor Hart
Shares of Actuate Therapeutics climbed after data from a recent trial of the company's in-development pancreatic cancer treatment showed that the drug improved overall survival.
The stock rose 15% to $13.63, in pre-market trading Monday. Its shares, which began publicly trading last August, hit a high of $11.99 on Friday and are up 50% so far this year.
The clinical-stage biopharmaceutical company said its phase 2 study of the drug, elraglusib, met its primary endpoint of improved median overall survival. Median overall survival increased by almost three months, with a 37% reduction in the risk of death and strong statistical significance.
These results represent a clinically meaningful advance in the potential treatment of metastatic pancreatic ductal adenocarcinoma, an aggressive form of pancreatic cancer in which the tumor has spread to other parts of the body, the company said.
"Based on the clear clinical benefit and well-tolerated safety profile, we intend to engage with the FDA and EMA in the second half of this year to align on a path to registration," Chief Executive Daniel Schmitt said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 02, 2025 06:34 ET (10:34 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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