Stock Alert: Five Prime Skyrockets 300% On Positive Results From Gastric Cancer Treatment Trial

(RTTNews) - Shares of Five Prime Therapeutics, Inc. (FPRX) surged over four-fold on Wednesday morning after its gastric-cancer treatment met all three of its efficacy endpoints in a mid-stage trial.

FPRX is currently trading at $21.46, up $16.12 or 301.87%, on the Nasdaq.

Five Prime, a clinical-stage biotechnology company focused on developing immune modulators and precision therapies for solid tumor cancers, announced positive topline results from its phase 2 FIGHT trial.

The trial compared bemarituzumab in combination with mFOLFOX6 chemotherapy to placebo in combination with mFOLFOX6 in patients with advanced gastric cancer.

The company said all three efficacy endpoints in the trial - progression-free survival, overall survival and overall response rate - achieved statistical significance in the bemarituzumab arm compared to the placebo arm.