Dec. 9 at 8:55 PM
Early-phase cancer trial results boosted several small biotech stocks. Terns Pharmaceuticals reported that its leukemia drug TERN-701 reduced cancer cell counts by over 99% in nearly 75% of patients, sending shares up as much as 50%. The pill outperformed Novartis’ Scemblix in efficacy, convenience, and side effects. Analysts see a large market potential, with Terns stock valued up to
$58.
Arcellx saw shares rise 13% after its multiple-myeloma CAR-T therapy showed comparable efficacy to Legend Biotech’s Carvykti but with fewer side effects. CAR-T treatment modifies a patient’s T-cells to target cancer cells, showing strong results even in heavily pre-treated patients. Legend Biotech shares fell over 10% due to competition, while Johnson & Johnson also experienced a minor dip. Analysts expect Arcellx’s therapy to file for marketing approval next year.
$TERN $NOVN $ACLX $LEGN $JNJ