Tesaro stock rises 6% on news that its ovarian cancer drug was approved by the FDA
Tesaro Inc. shares rose 5.9% in after hours trade Monday after the company said its ovarian cancer drug Zejula, also called niraparib, had been approved by the Food and Drug Administration. Zejula was approved for maintenance treatment of women with several kinds of recurrent ovarian cancer, including epithelial ovarian, fallopian tube, or primary peritoneal cancer, who have undergone chemotherapy. Zejula is the first of a class of cancer drugs called PARP inhibitors to gain approval without being limited to patients with certain biomarkers, such as a BRCA mutation. Tesaro also said Monday afternoon that it would be developing Zejula for metastatic ovarian, breast and lung cancers. Tesaro shares, which closed at $156.73 on Monday, have risen 14.7% over the last three months, compared with a 3.2% rise in the S&P 500 .
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