NEW YORK (TheStreet) -- Tesaro (TSRO) surged Monday after the biopharmaceutical company announced positive top-line results from the third and final Phase 3 trial of rolapitant, an investigational neurokinin-1, or NK-1, receptor antagonist in development for the prevention of chemotherapy-induced nausea and vomiting, or CINV.
"The rolapitant arm in this trial, which enrolled patients receiving cisplatin-based, highly emetogenic chemotherapy, (HEC) successfully achieved statistical significance over the standard therapy arm for the primary and all secondary endpoints," the company said in a statement.
BMO Capital increased its price target on Tesaro to $66 from $46 in the wake of the results with an "outperform" rating.
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