Theriva Biologics soars after cancer drug meets main goal in mid-stage trial

Shares of cancer therapy developer Theriva Biologics TOVX.A rise 80% to $2.45 premarket

Co says its experimental cancer drug, zabilugene almadenorepvec, when used with chemotherapy, met the main goal of improved overall survival and reduced risk of disease progression, in a mid-stage trial

Patients who received the drug with standard chemotherapy lived longer, 10.8 months, compared to those who received only chemotherapy, 8.6 months - TOVX

The drug was being tested in first-line treatment of metastatic pancreatic ductal adenocarcinoma – a type of cancer that starts in the ducts of the pancreas and has spread to other parts of the body

Co says the drug has been tested in over 140 patients and was well-tolerated

As of last close, stock down 22.3% YTD