GMDA - Why Gamida Cell Stock Is Soaring Today
Shares of biotech company Gamida Cell (NASDAQ: GMDA) are blasting higher on Wednesday following the company's release of data from a phase 3 clinical trial for one of its leading pipeline candidates, Omidubicel. As of 2:12 p.m. EST, Gamida's stock was up by 25.9%, after jumping by as much as 51.7% earlier in the day.
The phase 3 study in question tested the safety and efficacy of Omidubicel in patients with high-risk hematologic malignancies, that is, blood-based cancers. Bone marrow transplant is the only potential treatment for many of these patients, but about 40% of those eligible never receive a transplant for various reasons. For those lucky enough to receive a transplant, the procedure is rife with potential pitfalls, including medical complications and lengthy hospitalizations.
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Why Gamida Cell Stock Is Soaring Today