ADAP - Why Adaptimmune Therapeutics Stock Is Glowing Green Today
Shares of the anti-cancer cell therapy company Adaptimmune Therapeutics (NASDAQ: ADAP) are having an unusually strong showing today. Specifically, the biotech's stock is up by a whopping 26.8% on sky-high volume as of 2:17 p.m. ET on Tuesday.
What's fueling this double-digit rally? Ahead of the opening bell, Adaptimmune released both its third-quarter earnings and a clinical program update for its MAGE-A4 franchise. However, the real needle-moving event from today's early morning news releases appears to be Adaptimmune's decision to move forward with its genetically engineered T-cell therapy for advanced ovarian cancer.
In an exploratory study of patients with various solid tumors, the company's modified T-cell therapy, known as ADP-A2M4CD8, reportedly produced an overall response rate of 43% in patients with advanced ovarian cancer. As a result, Adaptimmune said that it will advance the therapy into a phase 2 trial for this indication as both a monotherapy and in combination with a checkpoint inhibitor.
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Why Adaptimmune Therapeutics Stock Is Glowing Green Today