KEY TAKEAWAYS

• Pfizer said this weekend that a drug aimed at helping cancer patients losing appetite and muscle mass showed positive results in a Phase 2 trial.

• The pharma giant said ponsegromab will start late-stage trials next year.

• The drug aims to treat cancer cachexia, the life-threatening wasting condition that often affects patients with the disease.

Pfizer (PFE) said this weekend that a drug aimed at helping cancer patients losing appetite and muscle mass showed positive results in a Phase 2 trial.

The pharma giant said ponsegromab will start late-stage trials next year. The drug aims to treat cancer cachexia, the life-threatening wasting condition that often affects patients with the disease.

"This study showed us those who received ponsegromab had improvement in body weight, muscle mass, quality of life, and physical function," said Dr. Jeffrey Crawford, principal investigator and George Barth Geller Professor for Research at Duke Cancer Institute.

Pfizer Says Currently No FDA-Approved Treatments for Cachexia

Pfizer said cachexia affects about 9 million people worldwide but there are no Food and Drug Administration (FDA)-approved treatments.

Pfizer shares are up less than 1% about 45 minutes before the opening bell Monday and are 2% higher this year.

Read the original article on Investopedia.