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TrovaGene Shares Volatile Ahead of Oncology Presentation

TrovaGene Shares Volatile Ahead of Oncology Presentation

TrovaGene Inc (NASDAQ: TROV) shares, which had been on a downtrend since early April, reversed course in mid-August.

From an intraday low of $1.30 on April 14, the stock bounced back and rallied to a high of $3.12 on Monday — a trough-to-peak gain of 140%.

What Drove The Upside

The strong gains came on the back of an announcement from TrovaGene on Thursday, Aug. 15 regarding the presentation of new data from a Phase 2 trial of onvansertib in combination with Zytifa in metastatic castration-resistant prostate cancer, or MCRPC.

The data is set to be presented in an oral moderated poster session at the 20th Asia-Pacific Prostate Cancer Conference at 1 p.m. Australian eastern daylight time on Saturday, Aug. 24.

TROV Chart

Source: Y Charts

TrovaGene is developing onvansertib as part of a combination regimen across a variety of cancers and integrating a predictive clinical biomarker strategy to identify patients who are most likely to respond to the treatment.

It is running two Phase 2 trials for onvansertib combo therapies: one in combination with low-dose cytarabine or decitabine for acute myeloid leukemia , and another in combination with Zytiga for mCRPC.

Early Phase 2 data presented at the American Association of Cancer Research in April showed that an early prostate-specific antigen, or PSA, response was observed with the addition of onvansertib to daily abiraterone in two of six patients, with 1 patient achieving the efficacy endpoint of disease control and a 30% decrease in tumor size by RECIST criteria.

"Both patients that showed an early response (at C1D8) with decreases in PSA levels, also tested positive for AR-V7, a highly aggressive androgen receptor variant, which is resistant to Zytiga because it no longer needs androgen for tumor growth," the company said.

Trovagene shares fell 10.49% to $2.56 in Wednesday's session. 

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