Seattle Genetics

Shares of Seattle Genetics (SGEN - Get Report)  rose as much as 16% Monday after the company announced positive results from a trial of its oral breast cancer treatment, tucatinib.

The trial involved tucatinib with a combination of other medicines in patients with locally advanced unresectable or metastatic human epidermal growth factor receptor 2, or HER2, breast cancer, which leads to the aggressive spread of cancer cells.

The company says tucatinib is a small-molecule tyrosine kinase inhibitor, taken by mouth, that's "highly selective" for HER2.

"The addition of tucatinib to the commonly used doublet of trastuzumab and capecitabine represents a potential significant clinical advance for patients with metastatic HER2-positive breast cancer, importantly, including those with brain metastases," Roger Dansey, a physician who is chief medical officer at Seattle Genetics, said in a release.

Dansey said the company in the first quarter plans to submit a new-drug application to the U.S. Food and Drug Administration.

Shares of Seattle Genetics were up 15% at $100.70 at last check.

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