VBLT stock is up more than 41% to $5.61 in pre-market trading Monday after jumping Friday on heavy volume. Ticker continues to show strength after the Or Yehuda, Israel-based biotech firm announced that Phase 2 VB-111 clinical data presented at ASCO demonstrate significant increase in overall survival in platinum-resistant ovarian cancer.
“The demonstration of improved overall survival with the therapeutic dose, in combination with 60% durable response rate, is particularly impressive, given this trial focused on women with poor prognosis disease,” said in a statement Richard Penson, Associate Professor of Medicine, Harvard Medical School and Primary Investigator for this trial.
Vascular Biogenics Ltd. (VBLT) said it is now preparing for an end-of-Phase 2 meeting with the FDA.
Shares of VBLT have fluctuated between $2.76 to $12.25 over the last 52 weeks. The stock traded as high as $12.25 on September 25, 2015 and has advanced 10.28% in the last 4 weeks and 16.42% in the past three months. Over the past 5 trading sessions the stock has gained 8.77%.
The $89.24 million market cap company has a median Street price target of $17.00 with a high target of $22.00.
Vascular Biogenics Ltd. is down 46.71% year-over-year, compared with a 0.95% gain in the S&P 500.