IPSC - Biotech Soars On FDA Press Release

2023-12-06 15:42:16 ET

A Philadelphia-based %Biotech company stole the show on Wednesday after it was announced that the company has been notified by the U.S. Food and Drug Administration (FDA) that the Company’s Phase 1 clinical trial may proceed to assess CNTY-101 in patients with moderate to severe systemic lupus erythematosus (SLE) who have failed at least two standard immunosuppressive therapies, according to the release.

This sent shares of %CenturyTherapeutics (Nasdaq: IPSC) soaring on the news, as shares of the small cap reached $2.29/share (+44.94%) at the early session high.

Century Therapeutics Inc (Nasdaq: ) is a biotechnology company developing transformative allogeneic cell therapies to create products for the treatment of both solid tumor and hematological malignancies with a plays a central role in the production of blood cells in the bone marrow. It is assembling a portfolio of allogeneic iNK and iT cell therapy product candidates across solid tumor and hematological malignancies.