Global Cord Blood Shares Rise 15% After Merger Target Gets FDA Clearance for IND
June 17 2022 - 12:49PM
Dow Jones News
By Chris Wack
Global Cord Blood Corp. shares were up 15% to $3.42 after the
company said Cellenkos Inc. recently got U.S. Food and Drug
Administration clearance for its Investigational New Drug
application for CK0804.
This clearance allows Cellenkos to initiate a Phase 1b,
open-label study of CK0804 as an add-on therapy to ruxolitinib in
patients with myelofibrosis who experience a suboptimal response to
ruxolitinib.
Global Cord Blood agreed to buy biotechnology company Cellenkos
in April. At closing, Global Cord will issue 125 million new shares
valued at $11 a share, and pay $664 million in cash.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
June 17, 2022 12:34 ET (16:34 GMT)
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