Why Is Nkarta (NKTX) Stock Soaring 90% Today?

Nkarta (NASDAQ:NKTX) stock is rocketing higher on Monday after the company released preliminary data from a Phase 1 clinical trial.

a model of a cancer attacking a double helix of DNA representing NKTX stock.

Source: CI Photos / Shutterstock.com

Nkarta is developing natural cell killers to combat cancer. The current Phase 1 clinical trial has it testing out its NKX101 and NKX019 treatments. The preliminary results from these are looking good so far.

That includes NKX101 achieving a complete response in three out of five patients with relapsed / refractory acute myeloid leukemia (AML). To go along with that is a two out of three complete responses being minimal residual disease (MRD) negative.

In the case of NKX019, five out of six patients with relapsed / refractory non-Hodgkin lymphoma (NHL) achieved a response. Also, three out of six saw a complete response. Among that is diffuse large B-cell lymphoma (DLBCL) response.

Paul Hastings, president and CEO of Nkarta, said the following about the trial news boosting NKTX stock higher.

“We’re excited to see our CAR NK co-lead candidates, NKX101 and NKX019, show such striking early single-agent activity in heavily pretreated patient populations, with an exceptional safety profile without the side effects associated with CAR T cell therapies.”

NKTX stock is seeing heavy trading today alongside the preliminary data. That has more than 58 million shares of the stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is about 208,000 shares.

NKTX stock is up 92.4% as of Monday morning.

Investors on the lookout for more stock market news today are in luck!

InvestorPlace has them covered with all the latest stock market news for Monday! Among that is what has Chinese EV stocks moving, why shares of Cenntro Electric (NASDAQ:CENN) are up, as well as the latest Nio (NYSE:NIO) stock news. You can find all of this 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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