You know champagne bottles are being popped open when your cancer drug treatment trial ends up being a success.
Shares of biopharmaceutical company Tesaro, exploded on Wednesday morning, after the company reported successful results of a cancer drug treatment trial.
The company announced that a trial of its drug niraparib (which is taken orally) “significantly prolonged” progression-free survival for patients with recurrent ovarian cancer compared to a control group. The trial included more than 500 patients with recurrent ovarian cancer.
The full results of the study will be released in October at the European Society for Medical Oncology congress.
Shares more than doubled in morning trading after the announcement.
Disclaimer: We have no position in TESARO Inc. (NASDAQ: TSRO) and have not been compensated for this article.