By Victor Swezey
Shares of clinical-stage pharmaceutical company Imunon skyrocketed after a study showed that its immunotherapy helped improve survival rates for patients with advanced ovarian cancer.
The stock more than doubled in Tuesday morning trading to $3.09.
The Lawrenceville, N.J.-based company said Tuesday that topline results from a phase 2 study of the drug IMNN-001 showed a hazard ratio of 0.74 in overall survival, equivalent to a 35% improvement in survival.
Patients treated IMNN-001 saw a three-month improvement in survival without the disease worsening and an 11.1 month increase in median overall survival compared with standard-of-care alone.
Imunon said it is planning a registrational study of IMNN-001, intended to gain regulatory approvals, for the first quarter of next year.
Write to Victor Swezey at victor.swezey@wsj.com; @vicswezey
(END) Dow Jones Newswires
07-30-24 1136ET