- Kiromic BioPharma (KRBP) stock is taking off on sponsored research agreement (SRA) news.
- This has the company planning to submit three new investigational drug (IND) applications.
- These applications will focus on GDT allogeneic therapies.
Kiromic BioPharma (NASDAQ:KRBP) stock is rocketing higher on Tuesday after the company announced a new sponsored research agreement.
This agreement has Kiromic teaming up with Principal Investigator James Welsh, M.D. of The University of Texas MD Anderson Cancer Center. The SRA will see the company producing preclinical data from its GDT allogeneic therapies.
Kiromic BioPharma notes that it expects the SRA to result in efficacy and patient safety that it can use in future filings with the U.S. Food and Drug Administration (FDA). It plans to use this information to submit three new investigational drug (IND) applications to the agency.
Kiromic BioPharma is a clinical-stage biotherapeutics company with two GDT allogeneic therapies currently in development. With this new SRA, the company will increase the candidates in its development pipeline to five.
CEO Pietro Bersani said the following in a press release, helping boost KRBP stock higher today.
“The first of these three new IND submissions – the Deltacel™ – is expected to be submitted during the second half of the year […] Importantly, we expect to begin the activation of the Deltacel clinical trial by the end of this year.”
Heavy trading of KRBP stock follows the SRA news today. Some 38 million shares are on the move as of this writing. That’s a massive increase over the roughly 200,000 shares that trade on average every day.
KRBP stock is up 74.8% as of Tuesday afternoon.
There’s more stock market news worth diving into below!
We’ve got all the hottest stock news for traders to read about on Tuesday. That includes everything investors need to know about J.M. Smucker (NYSE:SJM), Target (NYSE:TGT) and Novavax’s (NASDAQ:NVAX) movement today. You can read that news at the following links!
More Tuesday Stock Market News
- SJM Stock in Focus as J.M. Smucker Anticipates $125 Million Hit From Peanut Butter Recalls
- Target (TGT) Stock Sinks 8% After Warning of Profit Drop
- NVAX Stock Alert: 14 Things to Know as the Novavax Vaccine Faces the FDA Today
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not hold (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.