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Loxo Oncology's Up 230% in the Past Year -- Can You Still Make Money Buying It?

TheMotleyFool

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Loxo Oncology's Up 230% in the Past Year -- Can You Still Make Money Buying It?

Loxo Oncology (NASDAQ: LOXO) is one of biotech's best-performing stars this past year, and shares could still have room to run higher if the FDA cooperates with an OK for its lead drug, larotrectinib.

After updating investors on larotrectinib's efficacy and safety in June at the annual American Society of Clinical Oncology (ASCO) conference, Loxo Oncology's shares have broken out to new highs. Wowed by high response rates in trials, investors sent shares soaring, leaving long-term investors with a return that's north of 230% in the past year.