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Why Synta Pharmaceuticals is Up Huge Monday (SNTA)

Synta Pharmaceuticals (NASDAQ: SNTA) is currently up 36 percent in early Monday trading following a press release citing positive results from its ENCHANT-1 clinical trial.

According to the release, the trial is evaluating ganetespib monotherapy, a type of cancer treatment, in recently diagnosed, hard to treat cancer patients. The goal was to see at least one objective tumor response. Of the initial five patients enrolled in the study, two achieved objected tumor response  and two achieved a stable disease with three treatment cycles.

The release said,

Among the patients enrolled in the study is a 68 year old woman diagnosed with inoperable TNBC, including extensive disease that had spread to her lymph nodes. The week 3 PET scan showed metabolic response in all lesions and the week 12 physical exam showed no evidence of tumor. Treatment was adjudicated a complete clinical response, and her disease was restaged from inoperable to operable. Earlier this month, she successfully completed a mastectomy with curative intent.

Dr. Tamas Hickish, Professor at the Royal Bournemouth Hospital, Dorset, UK, the treating physician and an investigator on the study said:

“It is quite remarkable to see such a strong clinical response in this devastating disease, particularly with a single-agent regimen this well tolerated. This outcome strongly supports the further investigation of ganetespib either as a single-agent or in combination with standard of care treatments used in this setting.”

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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