Boston, MA 06/04/2013 (wallstreetpr) – The share prices of TESARO Inc. (NASDAQ:TSRO) had surged by whopping 35.11 percent to close at $46.22 per share for the end of last trading session on Monday. The shares of the development stage, oncology focused pharmaceutical company had been trading in the range of $34.45 to $47.50 per share during the day. The recent surge in share prices had led TESARO Inc. (NASDAQ:TSRO) to hit new records of 52 week high price levels to $47.50 per share and the 52 week low price level of the company is at $11.05 per share.
Partnership for clinical trials of Niraparib
TESARO Inc. (NASDAQ:TSRO) with main focus on development of therapeutic drugs for treatment of cancer had announced that it will be entering into partnership with Breast International Group and the European Organization for Research and Treatment of cancer for the clinical development of Phase III of its cancer drug niraparib. The present product candidates of TESARO Inc. (NASDAQ:TSRO) are aimed at treating cancer through non specific damage to cellular components or through the metabolism of alter cell or through the use of internal repair mechanisms to destroy the cancer cells.
The recent news on partnership for the clinical trials of its drug had led TESARO Inc. (NASDAQ:TSRO) to surge in share prices and also witness heavy trading volumes. Nearly 1.58 million shares of the oncology drug company had been traded on Monday, while the average trading volume of the company is at 251,272 shares per day.
TESARO Inc. (NASDAQ:TSRO) presently holds 32.58 million shares outstanding in the market with an institutional ownership of 89 percent.
