Aadi Bioscience, Inc. (NASDAQ: AADI) experienced a significant surge in after-hours trading on Friday, jumping an impressive 58.10%. This spike follows a respectable 2.4% climb during regular trading hours earlier in the day. The heightened interest in AADI is expected to carry over the weekend and potentially reflect in Monday’s trading.
Aadi Bioscience is a commercial-stage biopharmaceutical company focused on developing precision therapies for cancer. Their primary focus is on cancers with alterations in the mTOR pathway, a crucial regulator of cell growth and cancer progression.
Aadi has already achieved FDA approval and commercialized FYARRO® for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa).
Recent Clinical Study Results
The recent surge in interest seems to be tied to the publication of long-term efficacy and safety results from Aadi’s Phase 2 registrational AMPECT study of nab-sirolimus in malignant PEComa, while the study, published in the Journal of Clinical Oncology (JCO), showed promising outcomes.
Dr. Andrew J. Wagner, Senior Physician at the Dana-Farber Cancer Institute, commented on the study’s results, noting that responses to nab-sirolimus in patients with advanced PEComa lasted a median of 39.7 months, with a confirmed overall response rate of 38.7%.
Investor Interest and Future Prospects
Investors are attracted to Aadi Bioscience due to the positive clinical trial results and the company’s active shelf. Despite PEComa being a small market, there is speculation that Aadi’s therapies could extend to other indications, potentially increasing its market reach.
With a median survival of 53 months even in metastatic cases and a large cash position, some believe that Aadi Bioscience is undervalued at its current price of $2 per share.
Conclusion
Aadi Bioscience’s recent surge in afterhours trading reflects growing investor interest following the publication of positive long-term clinical trial results.
The company’s focus on precision therapies for cancer, particularly in the mTOR pathway, shows promise for future growth and expansion into other indications. As Aadi continues to advance its therapies and explore new clinical programs, it remains a company to watch in the biopharmaceutical industry.
