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Small-Cap Snapshot: MacroGenics rockets after unveiling optimistic trial results for breast cancer drug

Last updated: 13:45 06 Feb 2019 EST, First published: 13:13 06 Feb 2019 EST

pink breast cancer ribbon in a pair of hands

MacroGenics Inc (NASDAQ:MGNX) is breaking away from the pack in afternoon trading thanks to rosy results from Sophia, its Phase 3 study evaluating its drug margetuximab in women with HER2+ metastatic breast cancer. The trial demonstrated longer progression-free survival in patients taking margetuximab and chemotherapy when assessed against those taking Roche’s blockbuster breast cancer drug Herceptin (trastuzumab) and chemotherapy.

MacroGenics rocketed by 127% to hit $25.25.

Skyline Champion Corp (NYSE:SKY) is a top gainer after reporting strong fiscal third-quarter 2019 earnings. The manufactured housing maker whizzed past the Street’s estimates by posting a profit of $0.27 per share on sales of $354.7 million. Analysts had called for the Elkhart, Indiana company to earn $0.22 per share on revenue of $352 million.

Skyline rose 12.65 to $18.98

Elsewhere, Asbury Automotive Group (NYSE:ABG) is slipping slightly despite reporting profits of $2.06 per share, or $40.4 million, which beat Wall Street’s expectations. Its revenue of $1.78 billion also came in ahead of the consensus of $1.73 billion. Headquartered in Dulith, Georgia, Asbury runs 83 auto dealerships and 25 collision repair centers.

The stock nudged less than 1% lower to $72.25.

Vanda Pharmaceuticals (NASDAQ:VNDA) is a leading laggard after lodging a complaint against the Food and Drug Administration aimed at lifting regulators’ partial clinical hold on studies of its drug tradipitant. Vanda has taken legal action about tradipitant, which treats gastroparesis, a serious stomach condition, as it is looking to test the drug in humans. The biopharma company is fighting the FDA’s move to require an additional nine-month non-rodent toxicity study before it moves to humans.

The stock shed 19% to $20.25.

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