What's Going On With Apollomics Inc Stock?

Apollomics Inc. (NASDAQ:) shares are volatile Friday, and the stock has dropped by more than 75% over the last month. Here's a look at what's going on: 

What To Know:

Apollomics announced a report by the Veneto Institute of Oncology on the efficacy response of a patient treated with vebreltinib for GBM with PTPRZ-MET fusion on Thursday. 

The patient with GBM with PTPRZ-MET fusion was reported to have an impressive Partial Response (PR) after 8 weeks of treatment with vebreltinib monotherapy during participation in the SPARTA study. 

Apollomics also announced the presentation of vebreltinib efficacy and safety data from the KUNPENG clinical trial on Monday. 

"The clinical results demonstrate the potential of vebreltinib as a new treatment for patients with cancers driven by MET alterations, particularly in Non-Small Cell Lung Cancer (NSCLC) with MetEx14 skipping mutation," said Guo-Liang Yu, Ph.D., CEO of Apollomics.

"We are also pleased to see that vebreltinib is making progress in clinical programs for patients with various MET alterations."

Shares of APLM are up on heavy trading volume Friday. According to data from Benzinga Pro, more than 67 million shares have already been traded in the session, far exceeding the stock's 100-day average volume of less than 53 thousand shares.

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APLM Price Action: According to Benzinga Pro, Apollomics Inc. shares are up 51% at 86 cents at the time of publication.

Image: Phoenix Locklear from Pixabay