Sierra Oncology soars as momelotinib hits goals in myelofibrosis study
US biopharma firm Sierra Oncology (Nasdaq: SRRA) yesterday announced positive top-line data from the pivotal Phase III MOMENTUM study - a global, randomized, double-blind clinical trial evaluating momelotinib (MMB) in myelofibrosis patients who are symptomatic and anemic and previously treated with an approved JAK inhibitor.
The trial met all of its primary and key secondary endpoints. The company plans to seek US Food and Drug Administration approval of the orally bioavailable JAK1, JAK2 and ACVR1/ALK2 inhibitor in the second quarter, with the news sending its stock as much as 68% and closing 46.2% higher at $22.68.
Sierra acquired rights to momelotinib in 2018, under a deal with Gilead Sciences (Nasdaq: GILD), for which it paid $3 million upfront and became eligible to pay $195 million in milestones.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze