The IPO craze that was there at the beginning of the year seems to have died out. However, there are a few that continue to gain bullish momentum. One of them is Turning Point Therapeutics Inc (NASDAQ: TPTX). Since its IPO earlier in the year, the stock has been gaining bullish, and has recovered most of its recent dip in September.
The company has also been making some positive moves that could position it for growth in the long run. On the 11th of November, the company announced the start of phase 1-2 clinical for TPX-0046. This is the company’s leading candidate for the treatment of solid tumors.
In recent pre-clinical studies that were done at the 2019 congress of the European Society for Medical Oncology, this treatment had potency that was comparable to wildtype KIF5B-RET. It also had a stronger potency on the solvent front mutation called RET G810R.
Looking at upcoming events about the company, the CEO Athena Countouriotis will take part in the Piper Jaffray’s 31st annual healthcare conference on December 4th. The event will held in New York City. In this event, the CEO will take part in a fireside conversation which will be available on both audio and video. Investors will be keen to see what the company has in store going into 2020.
From the chart below, TPTX seems to be gaining positive momentum at that moment. After a dip in September, it has regained its most of the losses and is currently trading close to a 3 month high. Volumes have been on the rise too, and at yesterday’s close, the stock had volumes of 790.33k.
About Turning Point Therapeutics Inc
Turning Point Therapeutics Inc is a biopharma company that designs and develops oncology therapies. Its leading candidates are TPX-0046 and TPX-0022. It has its headquarters in San Diego, California.