Celcuity (CELC) Skyrockets 167% on Breast Cancer Treatment Trial
We recently published These 10 Stocks are Winning Big. Celcuity Inc. (NASDAQ:CELC) is one of the best-performing stocks on Monday.
Celcuity soared by 167 percent on Monday to close at $36.79 apiece as investors cheered positive results in its clinical trial for its breast cancer treatment candidate.
In a statement on Monday, Celcuity Inc. (NASDAQ:CELC) said it achieved positive topline results from the phase 3 clinical study of gedatolisib combined with palbociclib and fulvestrant—an experimental treatment for adults with two kinds of breast cancer.
Called the gedatolisib triple, the three-drug combination reduced risk progression and death by 76 percent as compared with taking fulvestrant alone.
Meanwhile, its gedatolisib double, which combines gedatolisib and fulvestrant, lowered the risk of progression and death by 67 percent, also achieving primary endpoints.
Celcuity Inc.’s (NASDAQ:CELC) clinical trial success bolsters its chances of filing an approval with the Food and Drug Administration by the fourth quarter of the year.
Copyright: bialasiewicz / 123RF Stock Photo
Following the results, Celcuity Inc. (NASDAQ:CELC) earned a whopping $60 price target from Leerink, a marked increase from the $28 target previously. It also maintained an “outperform” rating on its stock.
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