Why Is Kiromic BioPharma (KRBP) Stock Up 75% Today?

  • 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.
A pile of brightly colored pills in varying sizes and shapes representing KRBP stock.

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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.

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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.

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