Here's Why Momenta Pharmaceuticals, Inc. Shares Took Off Today

By Markets Fool.com

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

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What's Happening: Shares in Momenta Pharmaceuticals increased by 10% earlier today on news that the company is presenting updated clinical trial date for its pancreatic cancer therapy at the ASCO conference in Chicago.

Why It's Happening: Momenta Pharmaceuticals is studying the use of its necuparanib, a reformulated formulation of the anticoagulant heparin, alongside Abraxane and gemcitabine in an early stage, phase 1 trial to evaluate its safety and determine the maximum tolerated dose.

Based on the trial data, adding necuparanib to current standards of care did not appear to cause additional adverse events. Additionally, it was determined that the maximum tolerated dose is 5 mg/kg.

Momenta Pharmaceuticals also provided insight into necuparanib's efficacy from the trial. Overall, 88% of 16 patients receiving necuparanib had either a partial response or stable disease.

That's encouraging given that pancreatic cancer is tough-to-treat; however, since these findings are from a small, early stage trial, investors ought to take them with a grain of salt. Instead, investors might want to focus more attention on Momenta Pharmaceuticals' ongoing phase 2 trial of necuparanib in this indication. Momenta Pharmaceuticals expects that data from that mid stage trial could come by the end of 2016 or early in 2017.

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The article Here's Why Momenta Pharmaceuticals, Inc. Shares Took Off Today originally appeared on Fool.com.

Todd Campbell has no position in any stocks mentioned. Todd owns the equity research firm E.B. Capital Markets, LLC. E.B. Capital's clients may or may not have positions in the companies mentioned. The Motley Fool recommends Momenta Pharmaceuticals. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.