Today’s Research Reports on Stocks to Watch: Loxo Oncology and Jounce Therapeutics
Both Loxo Oncology and Jounce Therapeutics shares went in different directions after traders absorbed abstract reveals from each company. Shares of Loxo soared to a new high after promising data from its Phase 1 study of LOXO-292, while Jounce shares collapsed on JTX-2011 data results.
RDI Initiates Coverage on:
Loxo Oncology, Inc.
Jounce Therapeutics, Inc.
Loxo Oncology, Inc. shares closed up about 20% on Thursday with about 2.6 million shares traded. The stock soared to a new high of $171.99 after the company released an abstract that will be presented at the 2018 ASCO Annual Meeting in June. Traders were reacting to promising data from an ongoing phase 1 study of the company’s second-leading drug candidate, LOXO-292. The candidate showed a robust ability during the study to shrink tumors in patients with cancers that harbor a genetic mutation in the RET gene. The phase 1 study is evaluating the drug candidate as a treatment against three types of RET-mutated cancers: papillary thyroid cancer, medullary thyroid cancer, and non-small cell lung cancer. LOXO-292 saw an overall response rate of 52% across the patients evaluated at the cutoff date in January. Shares of the stock have gained over 280% in the last 12 months.
Access RDI’s Loxo Oncology, Inc. Research Report at:
Jounce Therapeutics, Inc. shares closed down a little over 35% on Thursday with nearly 7 million shares traded. Traders were less than enthused with an abstract for presentation at American Society of Clinical Oncology next month. Wall Street was hoping that the company’s lead product candidate, JTX-2011, would show robust efficacy. JTX-2011 is a monoclonal antibody that binds to and activates the Inducible T cell CO-Stimulator (ICOS), a protein on the surface of certain T cells that we believe will stimulate an immune response against a patient’s cancer. In collaboration with Celgene Corp., Jounce has JTX-2011 in phase 2 studies as a monotherapy and in combination with Opdivo to treat solid tumor cancers such as non-small cell lung cancer, triple negative breast cancer, and gastric cancer. As of Jan. 27, one out of seven gastric cancer patients had a partial response, and two out of five patients with triple negative breast cancer had stable disease after JTX-2011 monotherapy.
Access RDI’s Jounce Therapeutics, Inc. Research Report at:
Our Actionable Research on Loxo Oncology, Inc. (NASDAQ: LOXO) and Jounce Therapeutics, Inc. (NASDAQ: JNCE) can be downloaded free of charge at Research Driven Investing.
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