Terns soars as early data shows strong response in tough-to-treat leukemia

Shares of drug developer Terns Pharmaceuticals TERN.O rise 82% to $15.07 during early trading

Co says early-stage trial of experimental chronic myeloid leukemia drug, TERN-701, showed promising results

TERN says 64% of chronic myeloid leukemia patients achieved major molecular response (MMR) by 24 weeks

MMR means the level of leukemia in a patient's blood has dropped to a very low amount, showing that the treatment is effectively controlling the disease

MMR rates were high even in patients who failed prior therapies like asciminib and ponatinib, co says

Chronic myeloid leukemia is a type of blood cancer where the bone marrow makes too many abnormal white blood cells

Including session's move, stock up ~171% YTD