June 18, 2018 10:33am
VSTM’s shares up +$1.379 or +21.13% at the open - SELL on the dramtic incline
Verastem (NASDAQ:VSTM) is up on robust volume – 6.287 M shares after positive results from a P1b/2 clinical trial assessing duvelisib, combined with a chemo regimen called FCR, for the first-line treatment in younger patients with chronic lymphocytic leukemia (CLL).
- Duvelisib is a dual inhibitor of two enzymes called phosphoinositide 3-kinase (PI3K)-delta and PI3K-gamma. Both are associated with the growth and survival of malignant B cells and T cells.
The objective response rate was 94% with 76% of patients achieving bone marrow minimal residual disease (MRD) negativity. The complete response rate was 26% and the partial response rate was 68%.
Data from the crossover extension phase of the P3 DUO study in patients with treatment-resistant CLL/small lymphocytic lymphoma (SLL) showed an ORR of 73%.
Might be time to take some profit off the table … reasons to SELL:
- VSTM's stock jumped 17.03% Friday, to close the day at $6.53
- The stock recorded a trading volume of 8,084,847 shares, which was above its three (3) months average volume of 1,587,282 shares
- In the last year, VSTM's shares have traded in a range of 2.05 - 6.61. The share price has gained 218.54% from its 52 week low
- VSTM's shares are currently trading above their 200-day moving average
- The stock's 50-day moving average of $5.12 is above its 200-day moving average of $3.83
- Shares of Verastem have gained roughly 37.47% in the past month and are up 112.7% year-to-date