Why did eFFECTOR Therapeutics (EFTR) stock rise 75% today?
Source: Bukhta Yurii / Shutterstock.com
Therapeutic EFFECTOR (NASDAQ:EFTR) shares take off on Friday after the company reported positive data from a Phase 2 clinical trial.
This includes interim data from its expansion cohort evaluating zotatifine combined with fulvestrant and abemaciclib. The aim is to use this combination of drugs to treat patients with ER+ metastatic breast cancer (mBC).
EFFECTOR Therapeutics notes that of the 19 patients in the study, five saw a partial response. This includes four confirmed and one unconfirmed. This positive data is exciting investors because it means there is a possibility that the treatment for EFTR will undergo further trials.
Doug Warner, MD, Chief Medical Officer of eFFECTOR Therapeutics, had the following to say about the clinical trial results.
“I am excited about the early efficacy and safety results of the novel therapeutic candidate zotatifine and look forward to its further development in patients with advanced ER+ breast cancer who are currently medically underserved. . »
What this means for EFTR stocks
Today’s news announces a new breakthrough for eFFECTOR Therapeutics and its development of zotatifine. If this can continue, there is potential for a commercial release of the mBC treatment. This would bring a new source of income for the company.
The thought of this sent the EFTR stock soaring with heavy trading today. As of this writing, over 4.7 million shares have changed hands. That’s well above its average daily trading volume of around 255,000 shares.
EFTR stock is up 74.8% on Friday morning.
There’s more stock market news for traders to read below!
We have all the latest market coverage information traders need to know on Friday! Among these is what moves the shares of Appreciate the assets (NASDAQ:SFR) stock, largest pre-market stock moves, and more. All this news is ready to go with the following links!
More Friday stock market news
As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
With rare exceptions, InvestorPlace does not publish reviews of companies with a market cap of less than $100 million or trading fewer than 100,000 shares per day. This is because these “penny stocks” are often the playground of scammers and market manipulators. If we ever post comments on a low-volume title that may be affected by our comments, we require thatInvestorPlace.comThe authors of disclose this fact and warn readers of the risks.
Learn more: Penny Stocks— How to make profit without getting scammed