Five Prime Therapeutics discovers and develops innovative therapeutics to improve the lives of patients with serious diseases. The company was founded in 2001 and is based in South San Francisco, California.
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Shares of the clinical-stage cancer specialist Five Prime Therapeutics (NASDAQ: FPRX) gained a stately 312% over the course of November, according to data from S&P Global Market Intelligence. The drugmaker's shares blasted higher last month in response to positive mid-stage trial data for its novel stomach cancer candidate known as bemarituzumab. Bemarituzumab, as a first-line treatment for fibroblast growth factor receptor 2b-positive (FGFR2b+) stomach cancer, is thought to be capable of generating combined U.S. and EU sales in the range of $700 million per year, according to Cowen analyst Boris Peaker.
While potential new vaccines and treatments aimed at COVID-19 have been the big stars, companies focused on treating cancer have had a pretty good run as well. Here's why investors have been pushing their stock prices through the roof.