Tesaro Inc.’s stock rocketed 84% in active premarket trade Wednesday, after the biopharmaceutical company said Phase 3 trials of its treatment for ovarian cancer achieved its primary endpoints. That puts the stock, which went public on June 28, 2012, on track to open above the previous intraday record of $66.95 reached on July 20, 2015. Volume of about 300,000 shares as of 7:45 a.m. ET was already more than half the full-day average. The company plans to submit a new drug application and a marketing authorization application for the drug candidate in the fourth quarter of 2016. The stock had tumbled 29% year to date through Tuesday, while the SPDR S&P Biotech ETF shed 26% and the S&P 500 slipped 0.4%.
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