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Investing.com -- Ideaya Biosciences shares rose 10% in premarket trading Monday after the company released encouraging initial data from an early-stage trial of its lung cancer therapy.
The phase 1 trial evaluated IDE849 (SHR-4849), developed in partnership with Hengrui Pharma, for small cell lung cancer treatment. The results showed an 80% overall response rate and 70% confirmed overall response rate in second-line small cell lung cancer patients.
Across all treatment lines of small cell lung cancer, the drug demonstrated a 73.7% overall response rate and 57.9% confirmed overall response rate. The median progression free survival was 6.7 months across all dose levels and treatment lines.
RBC Capital Markets analyst Leonid Timashev described the first impression data as supporting "a best in class potential" for the therapy.
"We thought that an ORR >70% could be a ’home-run’ scenario, and our initial impression is that ’849 has cleared the hurdle with a 73% ORR in the overall population while maintaining a tolerable profile," Timashev noted.
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