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Will Elevation Oncology's stock price recover to pre-announcement levels by end of 2024?
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Elevation Oncology Announces Promising Data from Phase 1 Trial for EO-3021 with 42.8% ORR and 71% DCR
Aug 6, 2024, 11:12 AM
Elevation Oncology has announced promising initial data from its Phase 1 clinical trial evaluating EO-3021 in patients with advanced unresectable or metastatic solid tumors likely to express Claudin 18.2. The trial, which includes patients with gastric and gastroesophageal junction (GEJ) cancers, reported a confirmed overall response rate (ORR) of 42.8% and a disease control rate (DCR) of 71%. The study will now advance to the dose expansion phase. However, the stock price dropped by 40% following the release of the data, which showed an ORR of 20% in a subset of patients, significantly lower than the 47% observed in a previous Chinese study. The data indicated a higher ORR of 43% in patients with Claudin 18.2 expression greater than 20%, compared to the Chinese study's cutoff of greater than 1% expression.
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