Silexion Therapeutics (SLXN) shares rose more than 100% in recent Tuesday trading after the company reported "promising" preclinical data from its tumor drug candidate, SIL-204, in mice.

Based on the data, the company said the drug candidate administered in an extended-release formulation reduced tumor growth by more than 50% after 30 days, with about 50% of tumors showing complete necrosis in human pancreatic tumors.

The company also said that the drug candidate administered subcutaneously inhibited tumor growth in mouse metastatic pancreatic orthotopic models.

"While the current data shows robust tumor growth inhibition, further studies aim to evaluate its impact on metastases, which the Company is cautiously optimistic about," the company said.

Silexion said it is actively exploring how the data may be used to determine an expanded treatment strategy for certain cancers and expects to announce the details of its expanded development plan "shortly."

Price: 1.16, Change: +0.58, Percent Change: +100.17