OXiGENE Inc (NASDAQ:OXGN) is having an incredible day, and for good reason. The company released data from a recent Phase 2 study, and that data was overwhelmingly positive. Today, we'll talk about the data released from the Phase-2 study, how the market reacted to the news, and what we can expect to see from OXGN moving forward.
OXGN Releases Incredibly Positive Data
The company has been working on combination vascular targeted therapies for women with recurrent ovarian cancer. According to the announcement, the Phase-2 study looking into the treatment met its primary endpoint. OXGN was able to demonstrate a statistically significant improvement in progression-free survival in patients receiving the CA4P combination compared to the control. In a statement, OXGN CEO and President, William D. Schwieterman, M.D., had the following to offer...
We are very pleased that the data from the GOG-0186I study are now available for the medical community... The initial results showing an overall survival benefit for CA4P-treated patients potentially signify a much needed therapeutic advance for women with recurrent ovarian cancer, and we look forward to conducting additional analyses on this important outcome as the data mature.
How The Market Reacted To The News
As investors, one of the first things we learn is that the news moves the market. When positive news is released with regard to a publicly traded company, we can expect to see gains in the value of the stock associated with the company as a result. Adversely, when negative news is released with regard to a publicly traded company, we can expect to see declines. The news that was released surrounding OXiGENE was overwhelmingly positive. So naturally, we're seeing strong gains in the value of the stock today. Currently (9:50), OXGN is trading at $0.91 per share after a gain of $0.35 per share or 62.63% thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from OXGN. While the company is in the trial phase of development, it is showing that it is coming out with great things. The news with regard to recurrent ovarian cancer is overwhelmingly positive. If this treatment pans out in the long run, chances are that it will lead to strong revenue, great profit, and ultimately growth in the value of the stock moving forward. Given the data that has been released with regard to the treatment thus far, OXiGENE is obviously on the right track. All in all, things are looking good for the stock moving forward.