RXi Pharmaceuticals Corp (NASDAQ: RXII) is having an incredibly strong day in the market today, and for good reason. The company announced that it entered into a research collaboration, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about:
- The collaboration;
- what we’re seeing from RXII as a result;
- and what we’ll be watching for ahead.
RXII Heads Up On Partnership
As mentioned above, RXi Pharmaceuticals is having an incredibly strong day in the market today after the company announced that it has entered into a partnership. In a press release issued early this morning, the company announced that it has entered into a research collaboration with Iovance Biotherapeutics to evaluate the potential synergies with RXi’s novel sd-rxRNA therapeutic compounds and Iovance’s autologous cell thereapy. The goal is that through the partnership, RXII and Iovance will generate therapies for the treatment of cancer.
In a statement, Dr. Geert Cauwenbergh, President and CEO at RXII, had the following to offer:
Iovance is the leading company developing novel cancer immunotherapies based on tumor-infiltrating lymphocyte (TIL) technology. Our agreement will allow Iovance to explore their proprietary TIL technology and our proprietary sd-rxRNA technology. Under this research collaboration, we will further investigate and expand the recently published data with TIL and sd-rxRNA products, which demonstrated potentially enhanced tumor killing activity of TIL. As such, we may be able to improve potency of the TIL product and also possibly broaden the applicability of TIL in other tumors types. We see this new research collaboration with the highly experienced Iovance team using TIL, as a major step to advance life-saving treatment approaches for solid tumors, a space where there is still a dire need for improved therapies for these patients.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of RXi Pharmaceuticlas, the news released today proved to be overwhelmingly positive. After all, through this partnership, the company has the ability to further solidify its place in the field of oncology through the creation of more effective therapies. So, it’s no surprise that excited investors are sending the stock on a run for the top. At the moment (11:07), RXII is trading at $2.35 per share after a gain of $0.11 per share or 4.91% 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 RXII. In particular, we’re interested in following the story surrounding the company’s newly announced partnership as well as its continued work in the oncology space. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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