E Buy Jounce For A Bounce

Jounce Therapeutics (JNCE) is about to get crushed thanks to an update to its ICONIC study, in which, 46 patients were enrolled into six cohorts to study its leading drug candidate, JTX-2011. This drug is being tested for anti-tumor and anti-cancer activity. Let us discuss what is going on here.

Two cohorts received escalating doses of JTX-2011 as a monotherapy every three weeks and four cohorts received escalating doses of the drug candidate in combination with nivolumab 240 mg IV every three weeks. The 0.3 mg/kg dose was chosen as the recommended Phase 2 dose for JTX-2011 monotherapy, while it should be noted that 75% (9/12) of patients on the recommended Phase 2 dose and 83% (10/12) of patients on combination therapy (all dose levels) continue on the study. Shares have been crushed ahead of the presentation of data in two weeks from now:

Source: BAD BEAT Investing

We believe the selloff in shares knocking it down to the $11.55 level at the time of this writing is a severe overreaction. Why? The company announced that it will present results, and this is causing shockwaves. There is no indication that the data is poor, but we have the abstract below. What we do know is that:

"Jounce has met its target enrollment for the Phase 1/2 ICONIC trial in its combination cohorts across four solid tumor types: gastric cancer, triple negative breast cancer (TNBC), head and neck squamous cell cancer (HNSCC) and non-small cell lung cancer (NSCLC), with most patients completing at least one efficacy assessment. Updated results, including preliminary efficacy data on all evaluable patients in the trial, will be presented at ASCO."

The stock is dropping massively as it announced that data from this ongoing Phase 1/2 trial evaluating JTX-2011 monotherapy and in combination with nivolumab, will be the subject of an oral presentation at the upcoming 2018 American Society of Clinical Oncology, or ASCO, Annual Meeting in Chicago, IL on June 1-5, 2018.

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Disclosure: BAD BEAT Investing and Quad 7 Capital is long JNCE

Quad 7 Capital is a leading contributor with various financial outlets, and pioneer of the BAD BEAT Investing philosophy. If you like ...

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