As bemarituzumab data validate FGFR2b target in gastric cancers, Five Prime shares surge after hours

HER2-negative advanced gastric cancers may be one step closer to their first targeted therapy with positive efficacy data for Five Prime’s bemarituzumab.

Shares of  Five Prime Therapeutics Inc. (NASDAQ:FPRX) rose 364% to $24.80 in after-hours trading, a move that — if it holds in Wednesday’s regular trading session — would add nearly $700 million to the company’s market cap for a valuation of nearly $900 million...