Sierra Oncology soars as momelotinib hits goals in myelofibrosis study

26 January 2022

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.

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