The ESMO Conference Proves Its Ability To Move Stocks

The ESMO 2016 Oncology Conference took place over the weekend in Copenhagen, Denmark. News out of the conference is making a big splash in the market on Monday. Here’s a look at what you may have missed.

Bristol-Myers Squibb Co BMY shares are down 10.17 percent after the company reported worse-than-expected results related to cancer drug Opdivo. While monotherapy may not work out for Bristol-Myers, Goldman Sachs still believes combination therapy data is compelling.

Merck & Co., Inc. MRK pushed Bristol-Myers shares down even more on Monday by reporting extremely positive results for Keytruda. Keytruda reduced patient deaths by 40 percent compared to chemotherapy alone and cut disease progression in half. Merck shares are up 2.1 percent.

TESARO Inc TSRO shares are skyrocketing 22.5 percent on Monday morning following ESMO. Data from the conference indicates that the company’s Phase 3 drug candidate Niraparib has wide-reaching efficacy among ovarian cancer patients and could be granted broad labeling as well.

Oncomed Pharmaceuticals Inc OMED are in the green by 5.91 percent on Monday after the company reported positive Phase Ib data on drug candidates ipafricept and vantictumab. The company suggested both candidates are ready for Phase II testing.

Related Link: Ariad Pharmaceuticals Raises Cancer Drug Price For The 4th Time This Year

Ariad Pharmaceuticals, Inc. ARIA shares are up 6.1 percent after the company released positive Phase I/II data on Brigatinib in patients with anaplastic lymphoma kinase-positive advanced non-small cell lung cancer. The drug demonstrated at least 62 percent response rate at all dose levels tested.

Pfizer Inc. PFE shares are up a modest 0.3 percent on Monday after the company announced Phase III S-TRAC clinical data on Sutent. The drug increased survival for more than one year compared to placebo in patients at a high risk for recurrence after surgical resection of real cell carcinoma.

Exelixis, Inc. EXEL opened up higher on Monday but have since reversed, dropping 2.4 percent. The company announced Phase II data on Cabometyx in treating metastatic kidney cancer patients. Exlixis reported 31 percent less disease progression than Pfizer’s competing drug Sutent.

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