UPDATE: Celsion Shares Surge 74% On News Of Positive Trial Of Ovarian Cancer Treatment

Shares of Celsion Corp. surged 73.7% in extremely heavy morning trade Monday, after the cancer drug developer said an early-stage trial of a treatment of ovarian cancer showed promising findings. The phase 1b clinical trial evaluated Gen-1, the company's DNA-based immunotherapy, with the standard care for patients with advanced ovarian cancer who will undergo chemotherapy followed by surgery. Of the 14 patients treated in the study, two demonstrated a complete response, ten a partial response, and two remained stable. "This translates to a 100% disease control rate ("DCR") and an 86% objective response rate ("ORR")," said the company. Celsion shares rose 44.4% over the last three months to $4.58, while the S&P 500 has gained 2.3%.