MGTA - Magenta Therapeutics soars 37% on data for acute myeloid leukemia candidate

• Magenta Therapeutics ( NASDAQ: MGTA ) is up 37% in after-hours trading after posting phase 1/2 data on MGTA-117 for acute myeloid leukemia (AML) and myelodysplastic syndrome ( MDS ) that the company said demonstrates proof-of-concept.
• The candidate is an anti-CD117 antibody conjugated to an amanitin payload. CD-117 is highly expressed on hematopoietic stem cells, progenitor cells, and cancer blast cells.
• Magenta ( MGTA ) noted that MGTA-117 showed greater depletion of target cancer blast cells in the blood of participants in cohorts 2 and 3 compared to cohort 1.
• Magenta ( MGTA ) previously began discussions with regulators to transition MGTA-117 into a transplant-eligible AML and MDS patient population. The company plans in 1H 2023 to engage regulators to begin a MGTA-117 clinical trial in autologous ex vivo gene therapy.
• Seeking Alpha's Quant Rating views Magfenta ( MGTA ) as a hold with high marks for valuation and revisions .

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