NantKwest Inc (NASDAQ: NK) has been a top performer for the better part of December. On Friday, the stock edged higher to close the day with gains of 30.91%. The rally started on the 2nd of December when the company announced that, it had promising data with regards to the safety from the first 6-patients taking part in its QUILT-3.064 trial. The study testing the preliminary efficacy and safety of NantKwest’s PD-L1.t-Hank therapy that targets tumors in patients with advanced and metastatic solid tumors.
According to the company Chairman and CEO, Dr. Patrick Soon-Shiong, PD-L1.t- Hank has duo-targeting abilities on PD-L1 expressing tumors, and therapeutic monoclonal antibodies. This gives it the potential to change the treatment of advanced solid tumors. He added that, PD-L1.t-Hank is cryopreserved, which means it can be delivered quickly, even to patients in outpatient setups, while not incurring high manufacturing costs, a major challenge with CAR-T therapies.
On top of that, Dr. Soon-Shiong stated that, the company was looking forward to giving a full report on the results from the phase-1 study, while moving on towards a recommended dosage for phase-2. He further added that, they are continually working on advancing the company’s innovative therapies that include PD-L1.T-Hank among others such as N-803. N-803 is a stimulant for activating the patient’s NK cells to increase the potential for killing immunogenic cells and treat cancer.
Commenting on the development, John Lee M.D, the Clinical Senior Vice President at NantKwest stated that, they were encouraged by the initial safety feedback of PD-L1.t-Hank. He added that all patients were dealt with in an outpatient setting and without cytokine toxicities or any other adverse effects.
Looking at the charts, the stock has gained significantly since this news was announced. In Friday’s session, the stock traded between a low of $2.10 and a high of $3.10 before closing the day at $2.88. Volumes in the day stood at 3.4 million.
About NantKwest Inc
NantKwest is an immunotherapy company that develops treatments for cancer and viral diseases. The company is headquartered in San-Diego, California.