Neoleukin Therapeutics Inc (NASDAQ: NLTX) has been gaining upside momentum for the better part of late November, and December to date. This comes against a background of several good news in this period. In Mid-November, the company released its Q3 results alongside some news regarding some key appointments. The company announced that, in September, it had appointed Leslie Aberman as its Vice President of Legal affairs and intellectual property. The company announced that it had appointed Samantha Willing as Vice President, People. Both of them brought more than a decade of experience to the company.
The company also reported progress in the area of R&D. It announced that since its merger, it was working towards having a bigger laboratory and expanding its science staff. The goal is to help build capacity in the company’s protein engineering, computational and immunology. The company also announced that, it was dedicated to establishing leadership in de novo protein design and development. Through this, the company believes that, it has the potential to come up with cancer treatments, as well as treatments for autoimmune diseases.
In its financials, the company announced that its cash and cash equivalent stood at $66.3 million for the quarter ending September 30th 2019. While this was lower than the amount it reported in a similar quarter in the last financial year, the company attributed this to merger costs, and the cost of growing its team for the development of NL-201 IND.
Looking at the charts, the company traded between highs of $8.65 and a low of $6.15 in Tuesday’s session. It closed the day at $7.96. Volumes in the day stood at 3.33 million.
About Neoleukin Therapeutics Inc
Neoleukin Therapeutics Inc is a biopharma company focused on the development of immunotherapies. Its lead product is NL-201, a treatment for IL-2/IL-15 cancer immunotherapy.