Aileron Therapeutics Inc (NASDAQ: ALRN) is climbing in the market today, and for good reason. The company announced that it has entered into a collaboration agreement with Pfizer to work together on a clinical trial. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The collaboration between ALRN and PFE;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for ahead.
ALRN Announces Collaboration With PFE
As mentioned above, Aileron Therapeutics is having a great start to the trading session this morning after the company announced that it has entered into a collaboration. In a press release issued early this morning, the company said that it has entered into a collaboration agreement with Pfizer Inc. (NYSE: PFE). Under the collaboration, the two will work together on a combination clinical trial that will feature ALRN-6924 and Pfizer’s palbociclib. The company’s are assessing the combination treatment as an option for patients with MDM2-amplified cancers.
In the release, ALRN said that overexpression of MDM2 in cancer is generally known to be a driver of tumor proliferation. The two companies are expecting to start enrolling patients with solid tumors in the first quarter of 2019. During the trial, Pfizer will be responsible to provide drug supply and support.
In a statement, Manuel Aivado, MD, PhD, President and CEO at ALRN, had the following to offer:
We are excited about this combination trial with Pfizer’s palbociclib… The combination of ALRN-6924 and palbociclib demonstrated enhanced antitumor activity and meaningfully delayed tumor growth in animal models over single agents alone. We believe the combination of these two drugs represents a complementary attack on the proliferation of cancer cells that may benefit patients with a variety of different cancers.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In this particular case, the news surrounding Aileron Therapeutics proved to be overwhelmingly positive. After all, Pfizer is one of the largest pharmaceuticals companies in the world. So, having them as a partner in a trial will come with the support of one of the leaders in the space. As such, it’s not surprising to see that excited investors are pushing the stock on a run for the top in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (12:24), ALRN is trading at $2.19 per share after a gain of $0.26 per share or 13.62% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on ALRN. In particular, we’re interested in following the story surrounding the company’s continued work to bring its oncology options to the market as well as the Phase 1B trial that’s set to start enrolling soon. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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