Trillium Therapeutics' stock rockets on heavy volume after an upbeat update on cancer-treatment programs
Shares of Trillium Therapeutics Inc. nearly doubled in very active trading Thursday, after the developer of cancer treatments provided an upbeat update on its TTI-621 and TTI-622 programs. The stock shot up 93% in afternoon trading, toward the highest close since Nov. 30. Trading volume spiked to 46.4 million shares, well above the full-day average of about 2.3 million shares. The company said it has completed the initial-dose-finding and signal-seeking parts of a phase 1 study of intravenous TTI-621, and the program continues to demonstrate "clear single agent activity across a range of hematologic malignancies, as well as a strong tolerability profile, Chief Executive Jan Skvarka stated. "We are equally excited about the dose escalation progress with our IgG4-based agent, TTI-622," Chief Medical Officer Yaping Shou said. The stock has run up nearly 10-fold (up 880%) over the past three months, while the S&P 500 has climbed 12.1%.
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