Traws Pharma Stock Soars 40% On Positive Clinical Data For Oncology Asset

(RTTNews) - Traws Pharma, Inc. (TRAW) surged 39.43 percent to $1.98 on Tuesday after announcing encouraging clinical data for its legacy oncology asset, rigosertib. Published in the British Journal of Dermatology, the study represents the first clinical trial of an experimental cancer therapeutic in RDEB SCC, a rare monogenic disease. The stock opened at $2.50 and traded between $1.95 and $2.58 on the Nasdaq. It previously closed at $1.42. Trading volume surged to 56.6 million shares, far exceeding the average of around 99,000. Traws Pharma is trading within a 52-week range of $0.97 to $19.44.

Results showed an 80 percent overall response rate, including complete responses in 50 percent of evaluable patients. The company is now actively seeking development and commercialization partners for the asset.