Heat Biologics Inc (NASDAQ: HTBX) is having an incredibly strong start to the trading session this morning. However, if you’re digging for press releases, you’re not going to find any. The company has issued no news.
Nonetheless, there’s a good reason for the gains. The comapny has a presentation coming up and a quick search on the SEC’s website shows that an abstract associated with the presentation has been posted. Today, we’ll talk about:
- The news;
- what we’re seeing from HTBX stock as a result; and
- what we’ll be watching for ahead.
HTBX Gains Ahead Of Presentation
As mentioned above, Heat Biologics is having a strong start to the trading session this morning ahead of a coming presentation. The presentation will take place at the upcomming 2019 ASCO-SITC Clinical Immuno-Oncology Symposium on February 28, 2019.
During the presentation, the company will provide new HS-110 interim Phase 2 data. The presentation will be given by Daniel Morgensztern, MD, Associate Professor of Medicine and Director of Thoracic Oncology at the Washington University School of Medicine and lead investigator on the trial.
In the SEC filing issued this morning, HTBX said that an abstrct of the presentation has been posted on the ASCO-SITC website. This abstract summarizes data from the first two cohorts of a Phase 2 trial.
In the trial, the company is assessing HS-110 in combination with Bristol-Myers Squibb’s anti-PD-1 checkpoint inhibitor known as nivolumab (Opdivo). The treatment is being assessed as an option for patients with advanced non-small cell lung cancer.
In the filing, HTBX said that Cohort A results are consistent with results reported in early 2018. Median follow up of 14.4 months was experienced in this cohort and overall survival rate hasn’t been reached. The company also said that 60% of patients in this cohort remain alive.
The company also said that there was a demonstrated survival advantage for the ‘low TIL’ group as compared to the ‘high TIL’ group. Finally, the treatment proved to be well-tolerated among both cohorts. Most common adverse events included fatigue, cough and diarrhea.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Heat Biologics, the news proved to be overwhelmingly positive.
With strong data, investors have something to be excited about. The presentation that’s just two days away is just icing on the cake. So, it’s not surprising to see that the stock is moving up.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:19), HTBX is trading at $1.53 per share after a gain of $0.18 per share or 13.33% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on HTBX. In particular, we’re interested in following the story surrounding the company’s continued work to bring this combination treatment to market as results are positive to date. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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