Mustang Bio (NASDAQ:MBIO) stock is taking off on Monday after the clinical-stage biopharmaceutical company announced positive results from a study.
The recent news includes favorable results from the company’s Phase 1/2 clinical trial of MB-106. This is a CD20-targeted, autologous CAR T-cell therapy in development by the company to treat patients with Waldenstrom macroglobulinemia.
There are 10 patients currently in this study and nine of them have reacted favorably to MB-106. That includes three “complete responses,” two “very good partial responses” and four partial responses. The last patient has achieved stable disease.
Mustang Bio also notes that one of the patients who achieved a complete response has remained in remission for 31 months. Safety data has also been positive with nine patients suffering from grade 1 and grade 2 cytokine release syndrome.
Brian Till, M.D., Associate Professor and Physician at Fred Hutch and the University of Washington, said the following about these results:
“We are very encouraged by the safety and efficacy data generated in WM, along with improvements in the quality of responses over time, which demonstrates MB-106 CAR T-cell expansion and persistence.”
MBIO Stock Movement Today
This news brings with it heavy trading of MBIO stock today. That has more than 567 million shares changing hands as of this writing. This is well above its daily average trading volume of about 3.3 million shares.
MBIO stock is up 347% as of Monday afternoon.
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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.
