Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Leap Therapeutics (NASDAQ: LPTX) shares are surging premarket after the company announced the presentation of updated positive data from the first-line cohort of the DisTinGuish study.
The study is a Phase 2a clinical trial evaluating Leap's anti-Dickkopf-1 (DKK1) antibody, DKN-01, combined with tislelizumab, BeiGene's anti-PD-1 antibody, and chemotherapy in patients with gastric or gastroesophageal junction cancer.
Leap reported positive data from the DisTinGuish study on Monday, September 13, based on 25 patients enrolled in the trial that showed DKN-01 in combination with tislelizumab and chemotherapy as first-line therapy was well tolerated with “compelling activity.”
However, the results presented today include additional data which the company said are “stratified by tumoral PD-L1 expression levels based on visually-estimated combined positive score (vCPS), showing that robust objective clinical responses can be achieved from this combination regimen independently of PD-L1 expression.”
“Taken together, these are promising results for the combination therapy of DKN-01 with tislelizumab and chemotherapy in first line patients with gastric or gastroesophageal junction cancers,” commented Samuel Klempner, Member of the Faculty at Massachusetts General Hospital Cancer Center and Harvard Medical School.
Leap Therapeutics shares have surged over 40% premarket to $2.71, adding to Wednesday's 7.8% gain. On Monday, Raymond Jones analyst David Novak raised the firm's price target on Leap to $4 from $3, keeping an Outperform rating after a preliminary update on the DisTinGuish study.
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