TPST (Tempest Therapeutics | NASDAQ:TPST)Shares of Tempest Therapeutics (NASDAQ:TPST) closed nearly 4,000% higher Wednesday after the company released updated data from a Phase 1/2 study of its drug TPST-1120 in the first-line treatment of advanced or metastatic hepatocellular carcinoma, a type of liver cancer.
The stock closed at $9.77 after opening at $2.13.
In conjunction with the study update, the company also said its board had adopted a limited duration shareholders rights plan, effective immediately. The company said the plan was not adopted in response to any specific takeover threat.
Tempest said the updated results showed patients administered TPST-1120 in combination with atezolizumab and bevacizumab had a 30% overall response rate versus 13.3% for the atezolizumab and bevacizumab arm. The company noted that this was a substantial increase from previous data that indicated the ORR was 17.5% versus 10.3%.
The company added that the TPST-1120 arm also showed an ORR of 43% in a subpopulation of patients with a beta catenin mutation.
Tempest said it was looking to move TPST-1120 into a pivotal trial and at “advancing discussions with potential partners who share our vision for TPST-1120.”
The new data was provided by Roche (OTCQX:RHHBY), which managed study operations for the trial as part of its Morpheus program. Tempest said it still retains all product rights to TPST-1120.
Soaringeagle
Peak Resorts soars up 112.75% !!Peak Resorts, a company responsible for operating ski resorts in the Midwest, Mid-Atlantic, Northeast, United States soars up by 112.75%. This sudden rise has been caused from a company called Vali Resorts NYSE:MTN , in which will acquire Peak Resorts for $11.00 a share.
Peak Resorts is currently trading at 10.85 from the time this has published and is speculated to reach up to 11.00. Therefore this is a perfect opportunity to buy long.
It is assumed that all shareholders are happy with the decision. Peak Resorts in comparison to Vali Resorts is far larger and has gained larger revenue within the same similar time period that both companies began, in 1997.
VIX - soar like an Eagle?Hedge funds are shorting the $VIX again at a near record level. Don't forget what happened last time they did this. It was October 2017.
Non-commercials, who are now at the other extreme, continue to bet that volatility remains suppressed. Last week, they added 7.8k week-over-week to take their net shorts to 177,754 contracts – a new record (Chart 4). The prior high was recorded in October 2017. When stocks began to sharply correct in January-February and October-December last year, these traders’ net shorts were much lower. This is a dynamic equity bulls should not take their eyes off of.
Just because VIX net shorts are at a new record, stocks do not have to begin to correct right here and now. But with each tick higher, risks of unwinding rise. This suggests a surge in the cash is a matter of when, not if.
SOURCE: hedgopia.com