Tesaro's Cancer Drug Meets Primary Endpoint in Late-Stage Trial

Tesaro Inc. said Wednesday its ovarian cancer treatment drug achieved its primary endpoint of progression-free survival in a Phase 3 trial.

The company's shares soared 69% to $62.97 in premarket trading. The company's shares had declined 29% so far this year through Tuesday's close at $37.21.

The oncology-focused biopharmaceutical company said the results from the trial showed that its drug, Niraparib, "significantly" improved progression-free survival in women with recurrent ovarian cancer, compared with a control group.

The trial included more than 500 patients with recurrent ovarian cancer.

Niraparib is an oral, once daily treatment also in late-stage clinical trials for use in breast cancer. And in April, Johnson & Johnson announced it would invest $50 million in Tesaro, with plans to develop and commercialize Tesaro's niraparib for treatment of prostate cancer.

The company said it would release the full data from the Phase 3 study at the European Society for Medical Oncology congress in October.

Write to Joshua Jamerson at [e-mail]

(END) Dow Jones Newswires

June 29, 2016 07:45 ET (11:45 GMT)

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