Eleven Biotherapeutics Shares Gain

Eleven Biotherapeutics shares rose 6% on Tuesday after the company said has struck a deal to develop its Vicinium in combination with AstraZeneca’s (AZN) Imfinzi for the treatment of non-muscle invasive bladder cancer.

Under the agreement, the National Cancer Institute will conduct a phase 1 clinical trial to evaluate the safety, efficacy, and biological correlates of the drug combination therapeutic strategy. “While we remain internally focused on advancing our phase 3 registration trial of Vicinium as a monotherapy, preclinical data suggests that Vicinium also has the ability to potentiate the activity of immuno-oncology agents,” Eleven Biotherapeutics CEO Stephen Hurly said in a press release.

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