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Context Therapeutics (CNTX) Stock Price Soared 33.9% on Positive Breast Cancer Data

Simon Mugo trader
Updated 10 Dec 2021

Context Therapeutics Inc (NASDAQ: CNTX) soared 33.9% after announcing positive data from its window-of-opportunity clinical trial of onapristone extended-release (ONA-XR) in patients with early breast cancer who are past menopause.

The clinical trial results demonstrated that the drug significantly suppressed the proliferation of tumour cells in the 10 participants.

The company also unveiled the study designs for two additional clinical studies evaluating ONA-XR in metastatic breast cancer (MBC).

Meritxell Bellet, M.D., PhD, the co-principal investigator, said: “The data from the ONAWA trial signal the potential of ONA-XR to help inhibit tumor proliferation and shift tumors to a more endocrine treatment-sensitive phenotype during treatment prior to surgery in postmenopausal women with operable breast cancer and improve the overall prognosis for these patients. These results support further evaluation of ONA-XR in the treatment of early breast cancer.”

Martin Lehr, the CEO of Context Therapeutics, added: “ONA-XR is being evaluated in four investigator-sponsored clinical trials in hormone-driven breast, ovarian and endometrial cancers. This readout is the first for the novel PR antagonist, and the results are encouraging early evidence of the potential of ONA-XR to offer a new therapeutic option for hormone-dependent cancers.”

Investors cheered the news, as evidenced by the rally in Context Therapeutics stock. Today’s rally extends yesterday’s gains in a sustained uptrend that could lead to further gains.

However, investors who missed out on the latest rally may be best served waiting for a pullback before opening new positions.

*This is not investment advice.

Context Therapeutics stock price.

Tradingview chart of Context Therapeutics stock price 10-12-2021
Source: Tradingview

Context Therapeutics stock price soared 33.86% to trade at $8.38, rising from Thursday’s closing price of $6.26.

Is Now a Good Time to Invest In Context Therapeutics Shares?

Healthcare stocks, including Context Therapeutics shares, saw a wave of investors buy their shares during the pandemic. Governments also pumped money into the companies in an attempt to speed up the vaccine process. But, what happens now vaccines have been approved and the pandemic is becoming less prominent? Should we still invest in coronavirus-focused healthcare stocks? Or should we look to firms tackling other areas? Here are the best healthcare stocks to buy now…

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading