Prostate cancer is a nightmare for a lot of men out there, and those who fight prostate cancer, therefore, have a bit of a special place in the hearts of men. Ambrx Biopharma (NYSE:AMAM) stock shot up over 45% at the time of writing as this healthcare stock brought out a new potential weapon to settle prostate cancer, possibly for good.
The hefty jump in Ambrx shares came from tests around ARX517, which is in Phase 1 trials right now and represents a drug designed to tackle advanced-stage prostate cancer. The early tests have been small, with 22 patients receiving seven dose levels. Doses range from 0.32 milligrams per kilogram to 2.4 milligrams per kilogram. When three of the patients in question reached the sixth level—2.0 milligrams per kilogram—all three saw a reduction in “prostate-specific antigen” (PSA) levels that were larger than 50%. Two of the three saw the PSA levels drop below 90%.
Impressive, but it gets better. Multiple groups in the study saw PSA reductions of over 30% at the second-lowest dose, 0.64 milligrams per kilogram. Three of the patients involved have already reached the highest dose threshold. None of them saw any dose-limiting toxicities (DLTs).
While today’s news shot Ambrx up substantially, the last five days of trading show a noteworthy development. Ambrx stock was already on an upward trend even before the news about ARX517 emerged. Granted, it was a much slower uptrend, but an uptrend nonetheless.
