Sierra Oncology hits 52-week high as shares rise 43%; trading briefly halted

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• Shares in Sierra Oncology (SRRA +43.5%) are surging after the company reported that a phase 3 trial of momelotinib met all of its primary endpoints.
• The stock hit a 52-week high of $25.77 earlier this morning. That represented a gain of ~66% from Monday close.
• Trading in Sierra was briefly halted from 943a ET to 948a ET due to the surge.
• Momelotinib is a JAK inhibitor under investigation as a second-line option for myelofibrosis.
• Sierra has previously stated it plans an NDA filing for momelotinib in Q2.