Shares of Ideaya Biosciences (NASDAQ:IDYA) surged 10% in premarket trading Monday after the company reported promising preliminary results from an early-stage study of its lung cancer treatment.
The Phase 1 trial assessed IDE849 (SHR-4849), developed in collaboration with Hengrui Pharma, for patients with small cell lung cancer. Initial findings indicated an overall response rate of 80% and a confirmed response rate of 70% in second-line treatment patients.
Across all treatment settings for small cell lung cancer, IDE849 demonstrated a 73.7% overall response rate and a 57.9% confirmed overall response rate. The median progression-free survival was 6.7 months across all doses and treatment lines.
Leonid Timashev, analyst at RBC Capital Markets, described the early results as demonstrating “a best in class potential” for the therapy.
He added, “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.”
Ideaya Biosciences stock price
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