Turning Point (TPTX) Marches Ahead, Awaits TRIDENT-1 Data Update In 2020

(RTTNews) - Turning Point Therapeutics, Inc. (TPTX) jumped to a new high of $65.94, in Wednesday's intra-day trading session, before closing at $64.30. The stock debuted on the Nasdaq on April 17, 2019, at an opening price of $24.25.

Turning Point Therapeutics is a clinical-stage biopharmaceutical company developing targeted oncology therapies.

The company's lead drug candidate repotrectinib, is under a phase I/II trial for the treatment of patients with ROS1+ advanced NSCLC and patients with ROS1+, NTRK+ or ALK+ advanced solid tumors, dubbed TRIDENT-1.

Data from the phase I part of the TRIDENT-1 study, reported last September were promising.

The phase II portion of the TRIDENT-1 study was initiated in June of 2019. Early interim results from initial patients enrolled in the study are expected during the second half of 2020.

Next up in the pipeline TPX-0046 is under phase I/II study for the treatment of advanced solid tumors with abnormal RET genes.

Another clinical drug candidate of the company is TPX-0022, which is in phase I study in advanced solid tumors with abnormal MET/HGF or CSF1R/CSF1R signaling. Early interim data from this study are anticipated in the second half of 2020.

The company had cash, cash equivalents, and marketable securities of $423.6 million as of September 30, 2019.