Cancer

Kite Pharma shares soar after cancer therapy study shows good results

Kite Pharma shares soar after cancer therapy study shows good results

An experimental gene therapy that turns a patient's own blood cells into cancer killers worked in a major study, with more than one-third of very sick lymphoma patients showing no sign of disease six months after a single treatment, Kite Pharma Inc. said Tuesday.

In all, 82% of patients had their cancer shrink at least by half at some point in the study.

Shares of Santa Monica-based Kite soared 24.5% to close at $70.77. 

Kite is racing Novartis AG to become the first to win approval of the treatment, called CAR-T cell therapy, in the U.S. It could become the nation's first approved gene therapy.

A hopeful sign: The number in complete remission at six...

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