SRRA stock is running up ahead of ASH but what really got the stock exploding 12% in after-hours trading on December 5, 2019, is an Oppenheimer analyst.

SRRA stock ran up 12% in after-hours trading (brown shaded area) on December 5, 2019.

On December 2, 2019, Sierra Oncology, Inc. (Nasdaq: SRRA), a late-stage drug development company focused on the development and commercialization of momelotinib, a JAK1, JAK2 & ACVR1 inhibitor with a potentially differentiated therapeutic profile for the treatment of myelofibrosis, announced that it will host an Analyst & Investor Event on Sunday, December 8th at 7:00 am ET to discuss newly reported clinical data for momelotinib that will be presented at the 61st American Society of Hematology (ASH) Annual Meeting in Orlando, Florida.

The event will be led by Dr. Nick Glover, President and CEO of Sierra Oncology, and will include a presentation by renowned myelofibrosis expert, Dr. Ruben Mesa, Director of the Mays Cancer Center, home to UT Health San Antonio MD Anderson Cancer Center. Dr. Mesa and members of Sierra Oncology’s senior management team will be available to answer questions at the conclusion of the event.

New analyses of RBC transfusion data from SIMPLIFY-1, a double-blind Phase 3 trial of Sierra’s investigational drug momelotinib head-to-head versus ruxolitinib in JAK inhibitor naïve patients, will be presented in a poster by Dr. Mesa on Saturday, December 7th at the ASH Annual Meeting. These analyses demonstrate that patients who received momelotinib had significantly decreased transfusion requirements compared to those treated with ruxolitinib, including a nearly 10-fold higher odds of receiving no transfusions during the 24-week study period.

Analyst and Investor Event and Webcast Information
Date and Time: Sunday, December 8th at 7:00 – 8:00 am ET
Location: Bayhill 33 Meeting Room, Hyatt Regency, 9801 International Dr., Orlando

Event registration and webcast information are available through the Sierra Oncology website at www.sierraoncology.com. The event will be webcast live, and an archive of the presentation will be accessible after the event through the Sierra Oncology website.

ASH 2019 Momelotinib Poster Presentation Information:
Title: Dynamic and Time-To-Event Analyses Demonstrate Marked Reduction in Transfusion Requirements for Janus Kinase Inhibitor–Naïve Myelofibrosis Patients Treated with Momelotinib Compared Head to Head with Ruxolitinib
Session Name: 634. Myeloproliferative Syndromes: Clinical: Poster I
Date: Saturday, December 7th, 2019
Presentation Time: 5:30 pm – 7:30 pm ET
Location: Orange County Convention Center, Hall B

The poster will be available on Saturday, December 7th, 2019 on the company’s website at www.sierraoncology.com

On December 5, 2019, right after regular trading closed, Oppenheimer analyst Jay Olson initiated coverage of Sierra Oncology with an Outperform rating and $1.20 price target. He sees “significant commercial potential” for the company’s main asset, momelotinib, viewing it as as well positioned to secure second-line treatment of myelofibrosis patients previously treated with a JAK inhibitor, Olson tells investors. SRRA stock immediately exploded after the analyst’s comments, running up 12% in after-hours trading.

finviz dynamic chart for  srra
Sierra Oncology News From Google