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NantHealth's Shares Gain 35% after Presenting Breast Cancer Treatment Insights to Texas Conference

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Shares of NantHealth Inc. climbed to a new 52-week high after the healthcare IT company presented what it called significant treatment insights at the 2020 San Antonio Breast Cancer Symposium.

Healthcare information technology (IT) company NantHealth Inc. (NH:NASDAQ), which offers enterprise solutions that facilitate the transformation of complex data sets into actionable insights, earlier this week presented "new significant findings around the adoption of trastuzumab biosimilars in the treatment of HER2-positive breast cancer and the potential clinical and cost benefits of biosimilars during a poster session at the San Antonio Breast Cancer Symposium (SABCS)."

NantHealth stated that the information it presented to the conference demonstrates that "the adoption of trastuzumab biosimilars does not appear to be affected by patient selection, stage of disease, or goals of care."

The company explained that the study examined data from its evidence-based treatment decision platform called Eviti Connect, which provides tools for both providers and payers allowing them the confidence to prescribe and reimburse high-quality, high-value cancer care.

The firm stated that the data was collected from recent treatment plans for patients with HER2-positive breast cancer. The company advised that the study analyzed the effects of multiple factors, on adoption which took into account physician confidence in biosimilar efficacy and efficacy across various cancer progression stages and integrated that information with payer medical policy coverage levels, practice reimbursement and redirection.

William Flood, M.D., chief medical officer of Eviti at NantHealth, commented, "These findings are exciting as they show that the oncology community is using biosimilars to provide high-quality cancer care while lowering overall costs. This approach also highlights the opportunity to apply real-world data to understand and improve the delivery of valuable oncology care."

The presentation was titled "Real-world data on the adoption of trastuzumab biosimilars in the treatment of HER2-positive breast cancer," which was authored by William A. Flood, M.D., MS; Tiffany Avery, M.D.; Vlad Kozlovsky; Neil Margolis, Ph.D.; and Sandeep K. Reddy, M.D.

The firm noted that the San Antonio Breast Cancer Symposium is taking place virtually from December 8th thru December 11th and added that the forum's goals are to disseminate information on breast cancer research and offer a venue where researchers, health professionals and other interested individuals can interact, communicate and educate themselves on the latest clinical information in breast cancer research and treatments.

NantHealth stated that it is "a member of the NantWorks ecosystem of companies that provides enterprise solutions that help businesses transform complex data into actionable insights." The firm indicated that it is able to create efficient methods of moving, interpreting, visualizing and processing complex and highly sensitive information for businesses operating in the healthcare, life sciences, logistics and telecommunications industries. NantHealth notes on its website that what is particularly relevant is the fact that "94% of healthcare professionals see the value in technology, but many aren't sure where to begin." The company indicated that "its products utilize the latest technology in payer/provider collaboration platforms for real-time coverage decision support (Eviti and NaviNet), molecular analysis (GPS Cancer) and data solutions that provide multi-data analysis, reporting and professional services offerings."

NantHealth started the day with a market cap of around $312.5 million with approximately 111.2 million shares outstanding and a short interest of about 1.3%. NH shares opened around 4% higher today at $2.92 (+$0.11, +3.91%) over yesterday's $2.81 closing price and reached a new 52-week high price this morning of $6.60. The stock has traded today between $2.905 and $6.60 per share and is currently trading at $3.81 (+$1.00, +35.59%).

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