Kite bounces back after KTE-C19 trial update

Kite Pharma Inc. (NASDAQ:KITE) gained $2.32 to $60.32 on Monday after it said a patient death in a Phase I/II trial of KTE-C19 to treat refractory non-Hodgkin's lymphoma (NHL) was unrelated to treatment. The company held a conference call "to address recent misinformation in the market" that arose last week. On Thursday, a Cowen analyst had noted an "unsubstantiated possibility" of a death in Kite's trial.

Chairman, President and CEO Arie Belldegrun said on the call that complete responses have been seen in the trial and are being monitored to determine treatment durability. The company intends to report top-line Phase I data at the American Society of Hematology annual meeting in December. ...