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TheStreet Open House

Why Kite Pharma (KITE) Stock Is Soaring in After-Hours Trading Today

NEW YORK (TheStreet) -- Kite Pharma  (KITE) soared in after-hours trading on Monday after the company published successful data from its Phase 1-2a clinical trial of patients with aggressive non-Hodgkins lymphoma.

Kite treated patients with its an anti-CD19 chimeric antigen receptor (CAR) T cell therapy called KTE-C19. Eight of 13 patients with Advanced B cell malignancies showed complete remissions, while four showed partial remissions. The total result was a 92% objective response rate.

Furthermore, four of seven patients with chemotherapy-refractory diffuse large B-cell Lymphoma showed complete remissions. Three of these cases are ongoing, while one is ongoing after 22 months.

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The company published the data from the trial in the Aug. 25 issue of the Journal of Clinical Oncology. James N. Kochenderfer, M.D., one of the authors of the study, presented earlier data from the trial for the National Cancer Institute at the 55th American Society of Hematology Annual Meeting in Dec. 2013.

The stock was up 32.29% to $29.50 at 5:20 p.m. KITE Chart KITE data by YCharts

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