Shattuck Labs (NASDAQ:STTK) stock is on the rise Wednesday after the clinical-stage biotechnology company announced results from an ongoing Phase 1a/b trial.
These clinical trials cover the use of SL-172154 in combination with azacitidine in HR-MDS and TP53m acute myeloid leukemia (AML) patients. Specifically, this focuses on initial data from a dose expansion announced earlier this year.
Dr. Lini Pandite, Chief Medical Officer of Shattuck Labs, said the following about this trial:
“In dose escalation, we saw a monotherapy response to SL-172154 in a heavily pre-treated relapsed/refractory (R/R) TP53m AML patient that allowed the patient to receive a stem cell transplant. That patient remains disease free.”
What’s Next for STTK Stock?
If the company continues to see positive results from this clinical trial, more studies will likely follow. Investors are hoping for these as it puts Shattuck Labs closer to commercializing SL-172154. If that happens, it could bring a new source of revenue to the company.
STTK stock is up 92.9% as of Wednesday morning with some 37 million shares changing hands. To put that in perspective, the company’s daily average trading volume is closer to 56,000 shares.
There are even more stock market stories that traders will want to read about below!
We have all of the hottest stock happenings worth checking out on Wednesday! Among that is why shares of Roblox (NYSE:RBLX), Palantir (NYSE:PLTR) and ReShape Lifesciences (NASDAQ:RSLS) stock are moving today. You can catch up on all of these matters at the following links!
More Wednesday Stock Market News
- RBLX Stock Alert: Wells Fargo Initiates Roblox Coverage With ‘Overweight’ Rating
- PLTR Stock: Palantir Renews UniCredit Partnership
- Why Is ReShape Lifesciences (RSLS) Stock Up 68% Today?
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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.
