Tesaro doubles after niraparib shows survival benefit

Tesaro Inc. (NASDAQ:TSRO) soared $40.19 (108%) to $77.40 on Wednesday, adding $1.8 billion in market cap, after it said niraparib ( MK-4827) met the primary endpoint of improving progression-free survival (PFS) in the Phase III NOVA trial. The study evaluated niraparib as maintenance therapy in platinum-sensitive ovarian cancer patients with and without germline BRCA mutations. Tesaro plans to submit the candidate to U.S. and EU regulators in 4Q16.

NOVA enrolled more than 500 patients who received and responded to at least two prior lines of platinum chemotherapy. About 35% had a germline BRCA mutation identified by BRACAnalysis CDx from Myriad Genetics Inc. (NASDAQ:MYGN). Tesaro CEO Lonnie Moulder said about half of those who did not have germline BRCA mutations were positive for homologous recombination deficiencies identified by Myriad's myChoice HRD test. ...