Mustang Bio Inc (MBIO)

[crudeoil24]

MBIO up 274% @ 9.80 > Mustang Bio's stock soars to near 4-fold gain after deal to commercialize 'bubble boy' disease treatment
7:00 am ET April 18, 2019 (MarketWatch)
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Shares of Mustang Bio Inc. (MBIO) blasted off to a near 4-fold gain (up 257%) in premarket trade Thursday, after the biopharmaceutical company said it entered a licensing agreement with St. Jude Children's Research Hospital to develop the lentiviral gene therapy for the treatment of "bubble boy" disease (XSCID) for commercial use. Data from a phase 1/2 clinical trial evaluating the safety and efficacy of a lentiviral vector to transfer a normal copy of the IL2RG gene to bone marrow stem cells in newly diagnosed infants under the age of two with XSCID, showed that bone marrow harvest, busulfan conditioning and cell infusion were well tolerated, all patients cleared previous infections and are growing normally and most patients were discharged from the hospital within one month. "The results have been very good thus far," said Ewelina Mamcarz, assistant member at St. Jude. "We've been able to restore a full immune system pretty quickly." Mustang Bio's stock, which is on track to open at a 1-year high, was down 9.5% year to date through Wednesday. In comparison, the iShares Nasdaq Biotechnology ETF (IBB) has gained 9.0% and the S&P 500 has advanced 15.7%.

-Tomi Kilgore; 415-439-6400; [e-mail]

(END) Dow Jones Newswires

April 18, 2019 07:00 ET (11:00 GMT)

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