NVAX - Why Is Kiromic BioPharma (KRBP) Stock Up 75% Today?
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- Kiromic BioPharma (KRBP) stock is taking off on SRA news.
- This has it planning to submit three new NDAs.
- These will focus on GDT allogeneic therapies.
Kiromic BioPharma (NASDAQ:KRBP) stock is rocketing higher on Tuesday following announcing a new sponsored research agreement (SRA).
This agreement has KRBP teaming up with Principal Investigator James W. Welsh, M.D. of The University of Texas MD Anderson Cancer Center. The SRA will have it producing in vivo preclinical data from its Gamma Delta T cell (GDT) allogeneic therapies.
Kiromic BioPharma notes that it expects the SRA to result in efficacy and patient safety that it can use in future filings with the U.S. Food and Drug Administration (FDA). It plans to use this information to submit three new investigational drug (IND) applications to the agency.
Kiromic BioPharma is a clinical-stage biotherapeutics company with two GDT allogeneic therapies currently in development. With this new SRA, the company will increase the products in its development pipeline to five.
Pietro Bersani, CEO of Kiromic BioPharma, said the following in the press release boosting KRBP stock higher today.
“The first of these three new IND submissions – the Deltacel™ – is expected to be submitted during the second half of the year. Importantly, we expect to begin the activation of the Deltacel clinical trial by the end of this year.”
Heavy trading of KRBP stock follows the SRA news today. This has some 38 million shares on the move as of this writing. That’s a massive increase over the roughly 200,000 shares that trade on average every day.
KRBP stock is up 74.8% as of Tuesday afternoon.
There’s more stock market news worth diving into below!
We’ve got all the hottest stock news for traders to read about on Tuesday. That includes everything investors need to know about J.M. Smucker (NYSE:SJM), Target (NYSE:TGT), and Novavax (NASDAQ:NVAX) stock movement today. You can read that news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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