2025-04-15 16:55:00 ET
A biotech company based out of Ireland saw its shares soar on Tuesday after the company announced that it is discontinuing all clinical development of nemvaleukin alfa and plans to immediately start exploring strategic alternatives.
Traders rushed to buy up shares of Mural Oncology plc (Nasdaq:MURA) following this morning’s press release, eventually pushing the micro cap up to $3.2099/share (+211.64%) at the session high. This move was a breath of fresh air for long-term holders of this stock following the late-March drop off.
Mural Oncology's pipeline is built to address difficult-to-treat tumor types where checkpoint inhibitors are not effective. The Company's lead product candidate, nemvaleukin alfa (nemvaleukin), is an investigational, engineered interleukin-2 (IL-2) cytokine designed to capture and expand the therapeutic benefits of high-dose recombinant human IL-2 (rhIL-2), while mitigating the hallmark toxicities of native IL-2 in difficult-to-treat cancers with high unmet need. Nemvaleukin is currently in two potentially registrational studies: one for the treatment of mucosal melanoma as a monotherapy and one for the treatment of platinum-resistant ovarian cancer (PROC) in combination with pembrolizumab.
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