Shares of Ambrx Biopharma Inc. (AMAM) are surging more than 50% after the company announced encouraging initial data from the ongoing Phase 1 study of ARX517 in patients with advanced prostate cancer.
In the Phase 1 study dubbed APEX-01, Prostate-specific antigen (PSA) reductions ranging from more than 30% to 90% was observed in prostate cancer patients who were treated with ARX517, the company said.
AMAM is at $2.88 currently. It has traded in the range of $0.3800-$5.1200 in the last 1 year.
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