Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
Biopharmaceutical company Veru Inc (NASDAQ: VERU) shares are up over 65% on Monday after the company said its VERU-111 treatment has anti-cancer activity in Paclitaxel Sensitive and Paclitaxel Resistant Triple Negative Breast Cancer Tumors.
VERU-111 is an oral cytoskeleton disruptor that is currently being evaluated in both Phase 1b and Phase 2 clinical trials in men with prostate cancer. Veru said that in the prostate cancer clinical trials, the treatment has significant anti-tumour efficacy.
The company said that concerning breast cancer, “triple-negative breast cancer cells implanted into mice, orally administered VERU-111 almost completely inhibited tumour growth, whereas the placebo-treated tumours increased more than 10-fold.”
The company now plans to meet with the FDA in the first half of 2021 and advance VERU-111 into Phase 2b clinical trials in women with metastatic triple-negative breast cancer in 2021.
After opening the session at $10.82 per share, Veru Inc’s stock is now at $10.57, up 66.48% on the day.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .