Tesaro Inc TSRO shares are trading higher by $41.70 at $78.91 in Wednesday's session. The catalyst for the torrid rally is the announcement that the Phase 3 Nova trial of Niraparib achieved its primary endpoint of progression-free survival.
The rally from the pre-market session has carried over big time into the regular session. Investors didn't hesitate to go long the issue even after a $30+ higher open. In fact, it dipped only $0.28 to $68.50 before continuing its move higher. So far, it has reached $79.80 and is not far off that level.
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