Revenue Update on Loxo Oncology Inc(NASDAQ:LOXO)

Loxo Oncology Inc(NASDAQ:LOXO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Earnings per share were $-0.77. Analysts had estimated an EPS of $-0.63.

Loxo Oncology Inc (LOXO) made into the market gainers list on Fridays trading session with the shares advancing 0.38% or 0.1 points. Due to strong positive momentum, the stock ended at $26.19, which is also near the day’s high of $26.67. The stock began the session at $26 and the volume stood at 38,543 shares. The 52-week high of the shares is $35 and the 52 week low is $16.21. The company has a current market capitalization of $567 M and it has 2,16,64,333 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Nov 19, 2015, Avi Z. Naider (director) purchased 3,773 shares at $26.50 per share price.

Loxo Oncology Inc. is engaged in discovery development and commercialization of targeted cancer therapies. LOXO-101 is the Company’s lead product and has completed its pre-clinical research. LOXO-101 is an oral selective inhibitor of the tropomyosin receptor kinase (TRK) family. The Company is developing it for the treatment of tumors with TRK alterations. TRK has been implicated in various tumor types such as lung cancer head and neck cancer melanoma colorectal cancer sarcoma and breast cancer. The Company is conducting Phase 1 clinical trial of LOXO-101 which is an open label multicenter trial and has two stages: dose escalation and expansion. The objectives of the dose escalation stage are to determine the tolerated dose and the appropriate dose for further clinical investigation as well as to determine the tolerability and pharmacokinetic profile of orally administered LOXO-101.

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