Werewolf Therapeutics (NASDAQ:HOWL) stock is on the rise Friday after the company released preliminary data from the phase 1/1b clinical trial.
This clinical trial is ongoing and has the company treating patients with advanced or metastatic solid tumors with its interleukin 2 INDUKINE molecule. The study is evaluating the treatment both as a monotherapy and in combination with pembrolizumab.
The big news here comes from data from 16 heavily pretreated patients taking part in the study. The data so far shows proof of mechanism and proof of concept for the Werewolf Therapeutics’ treatment.
Daniel Hicklin, Ph.D., president and CEO of Werewolf Therapeutics, said the following about the news:
“We are encouraged by these preliminary data demonstrating that WTX-124 was generally well tolerated while delivering a wild-type IL-2 to the tumor microenvironment and eliciting monotherapy biomarker and clinical activity, including two patients with ongoing unconfirmed partial responses in the 12 mg cohort.”
How This Affects HOWL Stock
With this news comes heavy trading of HOWL stock on Friday. As of this writing, more than 7.3 million shares of the company’s stock are on the move. To put that in perspective, the company’s daily average trading volume is about 115,000 shares.
HOWL stock is up 20% as of Friday morning.
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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.
