Tyme Technologies (TYME) was up over 30% this morning on news of progress on a pancreatic cancer treatment known as SM-88.
A press release from the company today shows that SM-88 has potential as a treatment for patients with advanced pancreatic cancer.
Scientists site a poor prognosis population where SM-88 seems to help to increase median survival.
Internal officials say it also has a “well-tolerated safety profile” with serious adverse affect rates under 4%.
A randomized pivotal trial is slated for the third quarter of 2019.
“Responses are very rare in later line pancreatic cancer, said Allyson Ocean, MD in a press statement, “so overall response rates are close to zero.” Ocean is a pancreatic cancer specialist at New York-Presbyterian Hospital/Weill Cornell Medical Center and Associate Professor of Medicine at the Weill Medical College of Cornell University. “The SM-88 trial has demonstrated encouraging new data on efficacy indicators, including a meaningful clinical benefit rate, and a reduction in circulating tumor cells, that both correlate with extended survival…Research results to date also indicate that SM-88 has a favorable toxicity profile. To have both results with one drug is extremely important. “
All of that supports a rapid price action where TYME jumped from $1.20 to $1.70 before receding to $1.60 in early trading during the market session, though we see TYME sticking right around that number instead of slumping back down below $1.50.
It’s not unusual for new reports on drug progress to move these companies in premarket, but what’s encouraging to investors about this equity is its buoyancy during the first part of today’s trading session. Keep an eye on this and other movers in the segment as the general market responds negatively to less confidence on a Fed rate cut.