Nantkwest nearly doubles after CEO claims promising cancer result
By Carl Surran Stocks mentioned: NK
Nantkwest (NASDAQ:NK) exploded +91% in today's trade, thanks to a late surge after CEO Patrick Soon-Shiong told Bloomberg that the company's experimental cancer therapy achieved a complete response in one patient with pancreatic cancer during an early-stage clinical trial.
According to the CEO, one patient with metastatic pancreatic cancer had all tumors eradicated after treatment with Nantkwest's experimental immune system-based therapy after previously being treated unsuccessfully with other drugs.
Soon-Shiong said the first 10 patients in the trial had partial responses, though not a complete eradication of the tumors, but the 11th patient - who received an advanced form of the therapy that was engineered to target the PD-L1 antibody that shields cancer from the immune system - had all signs of the cancer eliminated.
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