Leap Therapeutics, Inc. (LPTX) stock popped high in pre-market today after the release of positive data from the Distinguish Study of DKN-01 Plus Tislelizumab. LPTX stock price saw a surge of 36.27% to reach $2.63 a share at the time of this writing. The stock was performing high in the previous trade and went up by 7.82% at closing.  Let’s dig in to explore more about this stock.

Leap Therapeutics, Inc is the biopharmaceutical stock that operates by developing treatments to cure cancer. Its lead clinical-stage product is DKN-01, an antibody that restrains Dickkopf-related protein 1 for treating various types of cancers.

DisTinGuish study of LPTX stock:

LPTX stock today presented the updated positive data from Phase 2a clinical trial of the first-line cohort of the DisTinGuish study at the European Society for Medical Oncology (ESMO) Congress. The trial evaluated the DKN-01, anti-Dickkopf-1 (DKK1) antibody, combined with tislelizumab in patients suffering from gastric or gastroesophageal junction cancer. The stock will discuss the preliminary results from the study tomorrow on September 17, 2021.

LPTX stock announced positive data from the study on September 13, 2021, in which 25 G/GEJ patients participated. The results from the study were compelling as the DKN-01 combine with islelizumab and chemotherapy as first-line therapy showed well tolerance. The ORR was 68.2% with 56% ORR in DKK1-low patients and 90% in DKK1-high patients. Out of 25 patients, six patients showed the best response in stable disease, 15 patients had a partial response. Three patients did not complete a full cycle of DKN-01 therapy, and one was non-evaluable.

Financial View of LPTX stock: 

• In the second quarter of 2021, LPTX stock reported a $9.5 million net loss as compared to $6.5 million in Q2,2020.
• License revenue for the second quarter of 2021 was $0.4 million and was the same for the prior year same quarter.
• LPTX stock spent $7.2 million in research and development expenses in the second quarter of 2021. This compares to $5.4 million in the same tenure of the previous year.
• General and administrative expenses for Leap stock were $2.8 million in Q2,2021 compared to $2.5 million in Q2,2020.
• By the end of the second quarter, Leap stock had $35.7 million in cash and cash equivalents.

Wrap Up:

So far so good for Leap stock as far as market sentiment is concerned after the release of positive data from DisTinGuish study. The stock has progressed well since last month as its per-share price gained 15.57%.