It’s not every day that you hear about Hillstream BioPharma (NASDAQ:HILS) in the financial headlines. Today, however, HILS stock is skyrocketing more than 100% on heavy trading volume. The catalyst is a collaboration with Dana-Farber Cancer Institute that could have serious implications for medical science and investors.
Based in New Jersey, Hillstream is a tiny biotechnology company with a market capitalization of around $16 million as of this writing. As we’ll discover in a moment, however, that market cap is subject to rapid changes today.
Hillstream BioPharma’s therapeutic candidates target drug-resistant cancers. The company’s most advanced clinical candidate is HSB-1216. The active drug in HSB-1216 was “found to be efficacious in a clinical pilot study in Germany in drug resistant tumors, including triple negative breast cancer and epithelial carcinomas.”
Among other objectives, Hillstream seeks to target the MUC1-C oncoprotein. This has reportedly been associated with drug resistance and poor clinical outcomes in treating cancer. To help combat this, Hillstream BioPharma would like to advance ferroptosis, an “emerging new anti-cancer mechanism.”
Fortunately, Hillstream won’t have to work alone. The company has signed an exclusive option agreement with Dana-Farber Cancer Institute. This agreement will give it access to Dana-Farber’s technology which could help develop anti-MUC1-C antibodies and induce ferroptosis.
What’s Happening With HILS Stock?
There’s a lot of scientific language involved here, but apparently today’s financial traders got the gist of what Hillstream and Dana-Farber are up to. As of this writing, HILS stock is up more than 100%.
Why are investors reacting so strongly to the news? Perhaps Hillstream CEO Randy Milby can clarify the implications of this team-up:
“This agreement allows Hillstream to leverage our Quatramer platform to advance anti-MUC1-C agents targeting CSCs [cancer stem cells] for the treatment of highly aggressive tumors, which represents a major unmet need for patients.”
So, the exclusive option agreement with Dana-Farber will empower Hillstream with potentially game-changing anti-tumor technology. Meanwhile, HILS stock is above the crucial $1 level. Evidently, there’s no stopping buyers today as Hillstream and Dana-Farber Cancer Institute collaborate to advance potentially lifesaving science.
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On the date of publication, David Moadel 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.