Here's Why Athenex Gained Over 43% Today

Shares of Athenex (NASDAQ: ATNX) rose nearly 44% today after the company announced that it will present at the upcoming San Antonio Breast Cancer Symposium on December 13. That's not really news, as companies present at scientific meetings and conferences all the time.

But astute investors picked up on the title of the abstract being presented: "Oral Paclitaxel with Encequidar: The first orally administered paclitaxel shown to be superior to IV paclitaxel on confirmed response and survival with less neuropathy: a Phase III clinical study in metastatic breast cancer."

The title suggests that additional data from the company's lead drug candidate, Oraxol, will bolster its case for marketing approval as a treatment for metastatic breast cancer. As of 3:24 p.m. EST, the pharma stock had settled to a 40.6% gain.

Source Fool.com