Trovagene Launches HPV Test, Stock Jumps 14 Percent After AnnouncementThursday, March 28, 2013
San Diego-based Trovagene Inc. has launched a urine-based human papillomavirus test on the market. The noninvasive test is designed to identify 15 high-risk strains of the common sexually transmitted disease using DNA sequencing.
The company’s stock jumped 14 percent after the announcement, from $5.75 at market close on March 26 to $6.58 following the announcement on March 27. Trovagene’s market capitalization is about $86 million.
More than 20 million Americans carry HPV with six million new cases occurring each year, according to the Centers for Disease Control and Prevention. Some strains can lead to cervical cancer in women.
“The launch of our urine-based HPV-HR DNA test represents an important milestone for Trovagene,” Antonius Schuh, the company’s chief executive officer, said in a statement. “Non-invasive carrier testing may help to increase awareness of HPV status and could reduce the incidence of HPV-related cervical cancer and other cancers worldwide.”
— SDBJ Staff Report