Clinical-stage biopharmaceutical company Ambrx Biopharma (NYSE: AMAM) stock popped by more than a whopping 500% in morning trading on Friday as it announced encouraging results in the Phase 2 trial of breast cancer drug ARX788.
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ARX788 is an anti-HER2 antibody-drug conjugate (ADC). The Phase-2 study, ACE-Breast-03 was a multicenter study of ARX788, evaluated for patients with HER2+ metastatic breast cancer and was conducted in the U.S., Korea, and Australia.
The study indicated a 51.7% overall response rate (ORR) and the “disease control rate (DCR) was 100% (7/7) for patients treated with ARX788.”
Ambrx stated in its press release that “none of the patients experienced drug-related serious adverse events (SAEs) and all adverse events (AEs) were well tolerated with no treatment discontinuations from AEs.”
AMAM stock has lost more than 90% of its value in the past year, as indicated by the above chart.
