Prima Biomed Ltd. (NASDAQ:PBMD)
Prima Biomed has been having a great time in the market over the past two days. After releasing data Tuesday morning from its Phase II ovarian cancer trial, the stock has grown exponentially. Today, we’ll talk about the data that’s been released, how the markets reacted, and what we can expect to see from PBMD moving forward. So, let’s get right to it…
Prima Biomed Releases Phase II Data
On Tuesday morning, Prima Biomed released data from its Phase II CAN-003 ovarian cancer clinical trial. The trial data was incredibly positive. It showed a strong trend for a clinically meaningful improvement in overall survival over standard of care in second remission patients. Essentially, the data released showed that PBMD’s clinical stage candidate is working as expected.
How The Markets Reacted To The News
As we have come to expect any time we see positive clinical data from an emerging biotech company, Prima Biomed’s stock surged in the market yesterday; and that surge has continued today. After a gain of more than 100% yesterday, the stock is still climbing; with gains near 100% today as well. Currently (11:05), PBMD is trading at $3.05 per share after a gain of 9.62% so far today.
What We Can Expect To See Moving Forward
Moving forward, I’m expecting to see overwhelmingly positive news in the long run. While the short term may be a bit choppy, I’m expecting to see more growth there as well. Here’s how I see it…
- Short Term – In the short term, I’m expecting to see more gains as investor excitement revolving around ovarian cancer treatments continues to take hold. However, it’s important to remember that in the world of small-cap biotech stocks, we tend to see a lot of volatility. So, I wouldn’t be surprised to see declines here and there on the way to the top.
- Long Term – In the long run, I’m also expecting to see positive news. The reality is that this clinical stage biopharmaceutical company has seemingly found a way to increase survival rates in those suffering with ovarian cancer after remission. There’s no doubt that if future studies of the company’s treatment prove to be effective, the value of the stock will climb substantially in the long run.