Ignyta Shares Rise

Ignyta rose 10% on Friday after the company said it began a comprehensive program update on entrectinib, an investigational, orally available, CNS-active tyrosine kinase inhibitor targeting certain types of tumors and which is being studied in a registration-enabling phase 2 trial.

The drug targets tumors that harbor TRK, ROS1 or ALK fusions, it said. “We are proud to announce substantial progress towards dual entrectinib NDA submissions for both TRK and ROS1, and are excited by the opportunity to serve two distinct groups of patients with cancer,” Jonathan Lim, chief executive, said. The company aims to submit applications for Entrectinib’s approval for TRK tissue agnostic and ROS1 NSCLC in 2018, with anticipated US launch in 2019. Based upon these dual indications, Ignyta said it estimates the market for entrectinib could be in excess of $1 billion annually in the US alone.