Kitov Pharmaceuticals Hldgs L Sponsored ADR (KTOV)

[midastouch017]

Kitov clawing back from equity offering-related down move; shares up over 60% since last week

Jul. 21, 2017 10:32 AM ET|About: Kitov Pharmaceuticals ... (KTOV)|By: Douglas W. House, SA News Editor

Investors in thinly traded nano cap Kitov Pharmaceuticals Holdings (KTOV +13.9%) have been on a rollercoaster the past two weeks. Shares ran up as much as 80% in the two days prior to its announcement of a public equity offering. Shares promptly sold off, dropping almost 46% on the news.

Shares have regained the loss, up over 60% since bottoming at $1.27 on July 11. Two days ago, it announced that subsidiary TyrNovo's lead candidate NT-219, combined with Merck's Keytruda (pembrolizumab), converted non-responding tumors into responders and blocked tumor progression in a preclinical model. No responses were observed with Keytruda alone or with NT-219 alone. The company intends to advance the candidate into clinical studies as soon as possible.