Shares of Enochain Biosciences (NASDAQ:ENOB) stock are blasting off on Monday after great news emerged for the biotechnology company from the U.S. Food and Drug Administration (FDA).
According to the release, “the FDA has accepted a Pre-IND (Investigational New Drug) request for a potential functional cure or treatment of HIV.” This request was based on a 54-year-old man living with HIV who had failed to suppress the virus with antiviral therapy. In turn, he subsequently achieved viral control for 255 days with an innovative treatment of Natural Killer and Gamma Delta T-cells collected from another person.
Moreover, the company said that no antiviral drugs were given during this entire period. Also, it “is believed that the GDT cells, a small subset of immune cells that can be infected with HIV, could be a key factor in controlling the virus.”
Enochain Biosciences said that written comments on the request are expected sometime this fall. The firm owns the exclusive license for the proprietary technology and stated that therapy “could be an important approach to achieve a ‘functional cure’ of HIV.”
Dr. Mark Dybul, a prominent expert in HIV and executive vice chairperson of the board of Enochian BioSciences, said this about the ENOB stock news:
“As an HIV researcher, clinician and past leader of large, global HIV programs, I am very excited by the FDA’s decision to provide responses to the Pre-IND submission. Because the promising early results are only in one person, it is important to study the approach in a larger population.”
ENOB stock was up 114% as of Monday afternoon.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.