Relay Therapeutics disclosed encouraging results for its key breast cancer drug and plans to advance the experimental treatment, called RLY-2608, to a late-stage clinical trial, the biotech firm said on Monday.
Investors responded with enthusiasm, sending shares up more than 50% in midday trading.
The new data come from an open label phase 1/2 trial on RLY-2608 combined with fulvestrant, an endocrine therapy for breast cancer, showing a third of patients with measurable disease responded to the treatment. The data were put out in a press release from Cambridge, Mass.-based Relay, and haven’t been published in a peer reviewed journal.
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