ASCO 2024 Winners and Losers
As expected, quite a few smid-caps moved big on their ASCO 2024 clinical readouts. Here’s a summary of results for some of the biggest movers, including our speculation of why the market crushed the stocks of the losers.
FIG 1. ASCO 2024 Winners and Losers stock moves between May 22, 2024 (day before abstract release) & June 4, 2024.
Top Winners (+)
Summit Therapeutics (SMMT)
Stock Price Increase: 🟢 +66.51%
Reported Ivonescimab data showing strong results in a Phase III trial for EGFR-mutant NSCLC, outperforming Pembrolizumab in first-line treatment for PD-L1 positive NSCLC, achieving statistically significant superiority in progression-free survival (PFS). Despite some patients discontinuing due to adverse events.
Agenus (AGEN)
Stock Price Increase: 🟢 +46.94%
Presented breakthrough data from their BOT/BAL therapy for MSS colorectal cancer. The treatment showed activity in hard-to-treat metastatic sites like the peritoneum, soft tissue, and brain, with overall response rates of 18-33% and disease control rates of 67-82%.
Affimed (AFMD)
Stock Price Increase: 🟢 +39.17%
Presented positive results from their AFM24-102 study in patients with EGFR wild-type NSCLC. The combination of AFM24 and atezolizumab achieved a disease control rate of 73.3% and a median progression-free survival of 5.9 months. The treatment was well tolerated with mild to moderate side effects.
Precigen (PGEN)
Stock Price Increase: 🟢 +19.57%
Reported Phase 1/2 study data of PRGN-2012 for recurrent respiratory papillomatosis highlighting that over half of the patients achieved a complete response, with no need for surgeries for over a year post-treatment. The treatment also demonstrated significant reductions in surgical interventions and improvements in quality of life, with no severe side effects reported.
Biggest Losers (-)
Verastem Oncology (VSTM)
Stock Price Decrease: 🔴 -69.02%
Reported at ASCO that the combo of Avutometinib and Defactinib + SOC showed 83% ORR in 1st Line metastatic Pancreatic Cancer. For more details, see below to get access to Pro forum version today.
Sensei Biotherapeutics (SNSE)
Stock Price Decrease: 🔴 -50.74%
Presented initial results from a Phase I/II trial of SNS-101, a pH-selective anti-VISTA antibody, in patients with advanced solid tumors. For more details, see below to get access to Pro forum version today.
Adlai Nortye (ANL)
Stock Price Decrease: 🔴 -50.43%
Presented data for AN0025 + chemoradiotherapy in esophogeal cancer, that appeared to show good efficacy but concerning tolerability. For more details, see below to get access to Pro forum version today.
ALX Oncology (ALXO)
Stock Price Decrease: 🔴 -40.2%
Presented Phase 1 data showing 59% ORR for combination of ALXO’s evorpacept (“EVO”) and approved standard of care PADCEV (enfortumab vedotin) in urothelial carcinoma patient. For more details, see below to get access to Pro forum version today.
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This article is not investment, tax, or legal advice. Please do your own diligence and seek advice from professional advisors representing your interests.
Article history:
First published 06/12/24 JR & EJV