Stock News in Focus: Sierra Oncology (SRRA)

Sierra Oncology (SRRA) spotted trading -80.58% off 52-week high price. On the other end, the stock has been noted 2.15% away from the low price over the last 52-weeks. The stock changed -0.61% to recent value of $0.49. The stock transacted 447943 shares during most recent day however it has an average volume of 1081.83K shares. The company has 75.65M of outstanding shares and 73.66M shares were floated in the market.

On Aug. 8, 2019, Sierra Oncology (SRRA) a late-stage drug development company focused on advancing targeted therapeutics for the treatment of patients with significant unmet needs in hematology and oncology,disclosed its financial and operational results for the second quarter ended June 30, 2019.

During the second quarter, we achieved major milestones in the development programs for our drug candidates. We reported Phase 3 regulatory clarity and the granting of Fast Track designation by the U.S. Food and Drug Administration (FDA) for our lead asset, momelotinib, and we reported proof-of-concept clinical data for our Chk1 inhibitor, SRA737, at the 2019 ASCO Annual Meeting, suggesting that this drug candidate has a defined clinical path forward toward potential initial registration, said Dr. Nick Glover, President and CEO of Sierra Oncology. Our current focus is on preparing for the launch of the MOMENTUM Phase 3 clinical trial, expected in the fourth quarter of 2019, designed to support potential registration of momelotinib on a global basis. We also continue to develop the assets in our DDR portfolio, SRA737 and SRA141, and have previously announced we are conducting a campaign intended to seek non-dilutive strategic options to support their further advancement.

Second Quarter 2019 Highlights:

Momelotinib (targeting JAK1/JAK2/ACVR1):

  • During the second quarter, Sierra obtained regulatory clarity with the FDA concerning the design of a Phase 3 clinical trial for momelotinib intended to support its potential registration.
  • Sierra also announced the design of the MOMENTUM Phase 3 clinical trial, planned for launch in the fourth quarter of 2019. The randomized double-blind trial is designed to enroll 180 myelofibrosis patients who are symptomatic, anemic and have been treated previously with a JAK inhibitor. The Primary Endpoint of the trial is the Total Symptom Score (TSS) response rate of momelotinib compared to danazol at Week 24 (99% power; p-value < 0.05). Dr. Srdan Verstovsek, MD, PhD, Chief, Section for Myeloproliferative Neoplasms, Department of Leukemia, Division of Cancer Medicine, The University of Texas MD Anderson Cancer Center, Houston, Texas, has been named Chief Investigator of the MOMENTUM trial.
  • Sierra also reported that the FDA has granted Fast Track designation to momelotinib for the treatment of patients with intermediate/high-risk myelofibrosis who have previously received a JAK inhibitor.

Its earnings per share (EPS) expected to touch remained -8.10% for this year.

According to the most recent quarter its current ratio was 13.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -8.89% from the mean of 20 days, -22.98% from mean of 50 days SMA and performed -63.41% from mean of 200 days price. Company’s performance for the week was -4.45%, -14.84% for month and YTD performance remained -63.23%.

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