Shares of Curis Inc.
more than tripled Tuesday, to lead all premarket gainers and with the most volume, after the biotechnology company announced positive preliminary data from a Phase 1 study of its leukemia treatment. The stock skyrocketed 256.3%, putting them on track to open at the highest price seen during regular-session hours since March 2018. Trading volume ballooned to 42.5 million shares, compared with the full-day average of about 1.7 million shares. Curis said its CA-4948 monotherapy in adult patients was well tolerated, has demonstrated signs of biologic activity in the ongoing study and is capable of achieving “relevant levels of drug exposure.” The stock has lost 15.3% year to date through Monday, while the iShares Nasdaq Biotechnology ETF
has climbed 22.7% and the S&P 500
has gained 14.3%.