Loxo Gains, Jounce Plunges After Cancer Meeting Abstracts Released

Shares of Loxo Oncology ( LOXO) jumped in morning trading after the biotech company released data in abstracts in anticipation of the 2018 American Society of Clinical Oncology Annual Meeting that is being held June 1-5 in Chicago. The data showed that its experimental LOXO-292 cancer drug shrunk tumors in nearly 70% of patients regardless of where their cancer originated.

Meanwhile, Jounce Therapeutics ( JNCE) said it is planning to unveil data from a trial evaluating JTX-2011 monotherapy and in combination with Bristol-Myers' ( BMY) nivolumab, which is marketed as Opdivo.