Calithera Biosciences Inc Up 180 For Week On Drug Data, Licence Pact

Calithera Biosciences Inc.

closed Friday up more than 180 percent during the week after the company issued promising pre-clinical data about a lead drug candidate. Calithera told investors Monday its cancer treatment CB-839 showed "significant anti-tumor efficacy" in a preclinical study. The data was presented at the American Society of Hematology meeting in San Francisco, where the company also offered promising interim results from a Phase I clinical study of the drug in treating breast cancer. Separately, on Tuesday, Calithera said it obtained a license from Mars Inc.'s Symbioscience unit on a preclinical arginase inhibitor program. Calithera said the deal will boost it's efforts to submit an Investigational New Drug application for a cancer treatment with the FDA near the end of 2015. Calithera closed Friday at $29.85 a share, up $6.65 during the day.