HCW Biologics Shares Double After FDA Clearance for Cancer Treatment Trial
October 28 2021 - 1:22PM
Dow Jones News
By Chris Wack
HCW Biologics Inc. shares doubled to $6.43 Thursday after the
company said it was cleared by the U.S. Food and Drug
Administration to proceed to evaluate its lead drug candidate,
HCW9218, in a first-in-human Phase 1b clinical trial in patients
with advanced pancreatic cancer.
Volume for the stock was 124 million shares at 12:45 p.m. ET,
compared with 65-day average volume of 153,000 shares. The stock
hit its 52-week low of $2.36 on Oct. 22. HCW has a public float of
12.4 million shares.
The biopharmaceutical company said its HCW9218 is an injectable,
fusion protein complex designed to drive bifunctional, anti-tumor
activity by activating desired immune responses to attack cancer
cells while simultaneously blocking unwanted immunosuppressive
activities.
HCW said that preclinical studies showed that HCW9218 enhanced
the anti-tumor efficacy of chemotherapy docetaxel and gemcitabine
plus nab-paclitaxel against melanoma and pancreatic cancer,
respectively, and simultaneously alleviated the off-target,
unwanted effects of chemotherapies on normal tissues.
In experimental animal models, HCW9218 was also shown to augment
anti-tumor activities of therapeutic and checkpoint antibodies,
which are currently standard-of-care anti-cancer treatment for
certain solid tumors, the company said.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 28, 2021 13:07 ET (17:07 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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