Pains and gains for cancer drugmakers ahead of industry meet
27/05/2022 15:55
** Shares of some cancer drug developers rally while others
trade in red on study data published ahead of key cancer
industry meet urn:newsml:reuters.com:*:nL3N2XJ1YU
** Shares of Iovance Biotherapeutics IOVA.O plunge over
50%, hitting their lowest since 2017 after company's skin cancer
therapy data disappoints
** IOVA is the biggest pct loser on the Nasdaq Biotech index
.NBI and also leads biggest losers across major U.S. exchanges
** Mirati Therapeutics MRTX.O also among biggest losers on
the biotech index; slumps 40% after lung cancer therapy causes
serious side effects in study urn:newsml:reuters.com:*:nL3N2XJ1QA
** SpringWorks Therapeutics SWTX.O , Tempest Therapeutics
TPST.O , ImmunoGen IMGN.O , Elevation Oncology ELEV.O ,
Harpoon Therapeutics HARP.O among other cancer drug developers
in red on data to be presented at the ASCO meet in early June
** On the flip side, PMV Pharmaceuticals PMVP.O is second
biggest pct gainer on the NBI after reporting data on
experimental drug for solid tumours urn:newsml:reuters.com:*:nGNX7vTvxM
** Merus NV MRUS.O also rallies on cancer antibody data;
up more than 20%, on course for biggest intraday pct gain since
October urn:newsml:reuters.com:*:nGNX3VLngs
** Exact Sciences EXAS.O , Cullinan Oncology CGEM.O ,
Adicet Bio ACET.O , among other gainers
(Reporting by Amruta Khandekar)
((Amruta.Khandekar@thomsonreuters.com;))