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Turning Point Therapeutics, Inc. (TPTX) stock surged in the Current Market; here is why?

Turning Point Therapeutics Inc. (TPTX) stock gained in the current market after announcing a topline data in a Phase 1/2 TRIDENT-1 Study. TPTX stock values at $31.58, gaining more than 27.39% compared to the previous close. TPTX stock closed at $24.79 at the end of the last trading session with a trading volume of around 547.89K shares.


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The Global Oncology Market Overview

According to economic analysts, the global oncology market size is expected to reach $270.5 billion in 2021. According to industry analysts, the oncology market is expected to increase at a pace of 10.2 percent per year over the next decade, reaching a total value of $522 billion by 2028.

According to the available statistics, the increase in tobacco and alcoholic beverages is the primary factor for the rise in the number of cancer patients in the United States and worldwide.

The increasing awareness of the condition among various organizations and governments and the availability of top-notch labs and technical improvement in industrialized nations are the primary growth factors.

The most significant difficulties facing the oncology business are the high beginning costs of diagnostic facilities, the possibility of catastrophic side effects from chemotherapy, and the exposure to radiation from CT scanners, among others.

TPTX Announced Positive Topline Data

Turning Point Therapeutics, Inc. (TPTX) announced promising topline data from the registrational TRIDENT-1 trial in ROS1-positive advanced non-small cell lung cancer (NSCLC) cohorts were released today by Blinded Independent Central Review (BICR).

They found a 79 percent confirmed objective response rate (RR) in 71 TKI-naïve patients. The initial estimated 12-month durability of response and progression-free survival of 85% and 80% in TKI-naïve patients with roughly 10 months of follow-up.

A cORR of 42 percent with a single TKI and platinum-based chemotherapy (EXP-2), 28 percent with two TKIs (EXP-3), and 36 percent with a single TKI were seen in TKI-pretreated patients (EXP-4). According to the study, patients with the ROS1 G2032R solvent front mutation who had been treated with TKIs had a cORR of 59%.

Conclusion

The company has passed the phase one study and is looking forward to entering the second phase. If the company succeeds in the second phase, it could be a game-changer for them.

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