VBL Therapeutics (NASDAQ: VBLT) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company presented data with regard to its novel MOSPD2 program in oncology and inflammation, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for with regard to VBLT ahead.
VBLT Heads Up On Data Presentation
As mentioned above, VBL Therapeutics is having an incredibly strong start to the trading session this morning after the company presented strong data from its novel MOSPD2 program in oncology and inflammation. The presentation took place at the 2018 BIO International Convention in Boston, MA.
In the release, VBLT explained that MOSPD2 can be found in many types of solid tumors. It is also known to be highly expressed in tumor cells when they start invading tissues or creating metastatic lesions. The data released proved to be overwhelmingly positive, indicating that knock-out of MOSPD2 in tumor cells may be reduce metastasis by up to 95%.
The data also showed that by knocking-out the MOSPD2 gene in mice, protection was created in the animals from developing some inflammatory diseases. Currently, VBLT is in the process of developing the VB-600 platform of biologic drug candidates for oncology and inflammation indications. In fact, the company plans on filing an IND in this program by the end of the year 2019. In a statement. Dror Harats, M.D., CEO at VBLT, had the following to offer:
Our research has shown that MOSPD2 plays a key role in the regulation of cell motility… We have generated data indicating that MOSPD2 is required for directional movement, or chemotaxis, of tumor cells and certain immune cells, and therefore appears to play a central role in both oncology and inflammation. We continue to advance our exciting VB-600 series of antibodies as drug candidates for oncology and inflammatory indications.
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 causes moves. In the case of VBL Therapeutics, the news proved to be overwhelmingly positive. After all, there is little news that is better for a biotech company than strong data surrounding its candidates. So, it’s no surprise to see that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:29), VBLT is trading at $2.72 per share after a gain of $0.57 per share or 26.74% 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 VBLT. In particular, we’re interested in following the story surrounding the company’s continued work with regard to MOSPD2 and excited to follow the development of the VB-600 program. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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