Shares of Veru Inc. (VERU) are rising more than 9% Tuesday morning after the company announced positive results from a Phase 2 study of its drug candidate enobosarm in endocrine resistant metastatic breast cancer.
The stock touched a new high of $11.45 this morning.
Enobosarm is an oral drug that selectively targets the androgen receptor (AR) in breast cancer without having the unwanted virilizing androgen adverse side effects.
Monday, Veru announced clinical results of the second Phase 2 study of enobosarm, which were presented at the 2020 San Antonio Breast Cancer Symposium.
"Overall, enobosarm was well tolerated with most of the observed adverse events being grade 1 and 2. Drug related severe adverse events (SAEs) (Grades 3-4) were observed in 6 patients (8.0%) at the 9mg and 10 patients (16.4%) at the 18mg dose. There were no reports of virilization, increased hematocrit, and liver toxicity," the company said.
Also, the FDA has recently agreed to a Phase 3 study of enobosarm, dubbed ARTEST, for the treatment of endocrine resistant ER+/HER2- advanced breast cancer to commence in the second quarter of 2021.
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