Biotechnology stocks Nkarta skyrocket; How its natural killer-cancer medicine did their job

Nkarta (NKTX) announced promising results from two studies in blood cancer patients on Monday, which led to the small biotech stock scoring a three-digit gain.




x



The company tested its “natural killer” cell therapies in patients with acute myeloid leukemia or AML and non-Hodgkin’s lymphoma or NHL. After three doses of Nkarta’s treatments, all signs of cancer disappeared in 60% of AML patients and 50% of NHL patients, the company said.

“Investor sentiment was pretty low in this reading,” Mizuho Securities analyst Salim Syed said in a note. “And of course we still need sustainability data and more, but showing these answers today is a big plus, and Street trading ratings should now move significantly higher for both programs.”

In today’s stock market, the biotech stock rose 140.9% to 18.72. Following the closure, Nkarta announced a public offering of $ 150 million shares of its common stock.

Biotech stock: Releasing a new cancer paradigm?

Natural killer cells belong to the immune system and can destroy cancer cells or cells infected with a virus. Researchers extracted these cells from healthy donors and then constructed them to seek specific targets associated with AML and NHL.

Patients received three doses of the treatments. Three out of five patients with acute myeloid leukemia had a complete response – meaning they showed no signs of cancer. Half of those with the NHL met at the same bar.

The AML patients had a full haematological improvement, which effectively put them in remission. To put this in perspective, only 19% of patients treated with similar drugs met the same bar, Syed said. He also notes that only five out of 12 patients had any reaction to a rival from Fate therapy (FATE). No one went into remission.

Syed retained its buy rating and 81 price targets on the biotech stock.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

YOU MAY ALSO LIKE:

Axsome Therapeutics stock rockets as its first FDA approval looks imminent

Intuitive surgery strikes goals in the first quarter, while optional procedures return

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools, and Analyzes Today

Want more IBD insight? Subscribe to our investment podcast!

Shares to buy and see: Stock exchange listings, large and small investments, growth stocks

Leave a Reply

Your email address will not be published. Required fields are marked *