Best New Stocks of Q2 – #5, Kite Pharma (KITE)
Biotech firms dug out a place among some of the top IPOs for the quarter. Notable among them is Kite Pharma (KITE), which is a clinical-stage operator. Kite’s drugs leverage a patient’s own immune system to attack diseases, such as to eradicate cancer cells. At the core of this is eACT, which involves complex genetic engineering of T cells.
As a sign of the strength of this approach, Kite is collaborating with the Surgery Branch of the National Cancer Institute for its two lead candidates. The drugs are for the treatment of relapsed/refractory lymphomas and leukemias.
Kite’s founder and CEO is Arie Belldegrun, an experienced former executive from companies like Agensys and Cougar Biotechnology, and a former researcher at the NCI, where he focused on oncology and immunotherapy.