HCW Biologics (NASDAQ:HCWB) stock is rocketing higher on Thursday thanks to a recent update from the U.S. Food and Drug Administration (FDA).
The good news for HCWB investors on Thursday is the FDA giving the company the go-ahead for a clinical trial. This is in relation to a Phase 1b clinical trial testing HCW9218 in patients with advanced pancreatic cancer.
HCW9218 is HCW Biologics lead drug candidate and this trial will be its first use in humans. It’s a fusion protein complex made to attack cancer cells while also blocking unwanted immunosuppressive activities.
Hing C. Wong, Ph.D., founder and CEO of HCW Biologics, said the following in a news release today.
“In preclinical studies, we showed that HCW9218 enhanced the anti-tumor efficacy of chemotherapy docetaxel and gemcitabine plus nab-paclitaxel against melanoma and pancreatic cancer, respectively, and simultaneously alleviated the off-target, unwanted effects of chemotherapies on normal tissues. In experimental animal models, HCW9218 was also shown to augment anti-tumor activities of therapeutic and checkpoint antibodies, which are currently standard-of-care anti-cancer treatment for certain solid tumors.”
The FDA news today also has HCWB stock seeing heavy trading. As of this writing, more than 98 million shares of the stock have changed hands. That’s a massive surge over its daily avearge trading volume of about 154,000 shares.
HCWB stock was up 108.2% as of Thursday morning.
Investors looking for more hot stock market news today are in luck!
InvestorPlace offers up daily coverage of the stock market and today is no different. A few examples worth checking out include GlobalFoundries making its public debut today, what’s happening with Chinese stocks, as well as this morning’s pre-market stock movers. You can learn all about that at the following links!
More Stock Market News for Thursday
- GFS Stock IPO: 10 Things to Know as GlobalFoundries Starts Trading Today
- Chinese Stocks Alert: What Is Going on With FUTU, TIGR Stocks Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
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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