Celcuity (CELC) stock rocketed higher on Monday after the clinical-stage biotechnology company announced positive topline results from the PIK3CA wild-type cohort of the Phase 3 VIKTORIA-1 clinical trial. This trial is focused on the study of gedatolisib plus fulvestrant with and without palbociclib versus fulvestrant as a treatment for adults with hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative, PIK3CA wild-type, locally advanced or metastatic breast cancer.
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The big news here is that the gedatolisib triplet showed statistically significant and clinically meaningful improvement in progression-free survival (PFS), reducing the risk of progression or death by 76% when compared to fulvestrant. The gedatolisib doublet also showed statistically significant and clinically meaningful improvement in PFS, reducing the risk of progression or death by 67% compared to fulvestrant.
Sara Hurvitz, co-investigator of the Celcuity clinical trial, said the results were “potentially practice-changing.” She noted that “we have not seen Phase 3 results in patients with HR-positive, HER2-negative advanced breast cancer before where there was a quadrupling of the likelihood of survival without disease progression relative to the study control.”
Celcuity Stock Movement Today
Celcuity stock was up 212.35% during pre-market trading on Monday, following a 1.99% dip on Friday. The company’s shares were also up 5.19% year-to-date but down 23.29% over the past 12 months. Today’s rally came with heavy trading, as some 5 million shares changed hands, compared to a three-month daily average of about 250,000 units.
Is Celcuity Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Celcuity is Strong Buy, based on seven Buy ratings over the past three months. With that comes an average CELC stock price target of $28.25, representing a potential 105.16% upside for the shares.
