Celcuity (CELC) Hits Fresh Record High on Stellar Breast Cancer Drug Trial Result

We recently published 10 Big Names Beating Wall Street at its Own Game. Celcuity Inc. (NASDAQ:CELC) is one of the best performers on Monday.

Celcuity soared to a fresh record high on Monday, as investors cheered stellar results of the third phase of a clinical trial for the efficacy of gedatolisib in patients with advanced breast cancer.

In intra-day trading, the stock jumped to its highest price of $83, or a 59.7-percent jump, before trimming gains to end the day just up by 35.84 percent at $70.58 apiece.

This followed announcements that its drug candidate—gedatolisib, in combination with two other drugs (called the triplet)—showed a marked 76 percent reduction in the disease progression of enrolled patients with HR+/HER2- advanced breast cancer.

Meanwhile, gedatolisip doublet, which is in combination with a partner drug, reduced the disease progression by 67 percent.

According to Celcuity Inc. (NASDAQ:CELC), hazard ratios for the triplet and doublet were more favorable than have ever been reported by any Phase 3 trial for patients with the said illness.

Following the results, Celcuity Inc. (NASDAQ:CELC) said it is now readying its new drug application with the Food and Drug Administration, with the official submission targeted by the end of the year.

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Disclosure: None. This article is originally published at Insider Monkey.