FTSV - This Cancer Drug Is Driving Forty Seven's Stock Higher
Cancer drug company Forty Seven's (NASDAQ: FTSV) stock price continues to climb higher following the December release of positive data from a Phase 1 clinical trial involving its lead cancer immunotherapy compound, magrolimab. The stock is up more than 200% since early last month. These early results indicate a turning point for the company: They show the promise of a potential treatment for patients living with myelodysplastic syndrome (MDS), and they mark a path to further value for investors.
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Founded by leading scientists from Stanford University, Forty Seven has a unique approach to defeating cancer; its treatments activate the first responders of the body's immune system to attack and destroy cancer cells. This approach marks an emerging field in the oncology space, with much research targeting a kind of protein called CD47, which is found on the surface of many cells in the body.