Galera’s stock soars after release of positive study data for its experimental cancer therapy
Philadelphia Business Journal
Galera Therapeutics’ stock price opened up 41% after the Malvern biopharmaceutical company provided updated results from early-stage testing of its experimental therapy for advanced pancreatic cancer.
The company’s stock began trading Thursday at $9.34 per share after closing Wednesday at $6.61.
Galera (NASDAQ: GRTX) is developing proprietary therapies that have the potential to transform radiotherapy in cancer. Its small-molecule new drug candidates are designed to protect normal cells and sensitize cancer cells to radiation therapy.
The company’s Phase 1/2 pilot trial of its new drug candidate GC4419, also referred to as avasopasem, is testing the experimental treatment in patients with locally advanced pancreatic cancer who are undergoing stereotactic body radiation therapy.
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