Generate Biomedicines Launches Armored CAR T Trial for Ovarian Cancer
GENB sits 37% above its 52-week low of $11.
Summary
Generate Biomedicines and Roswell Park have launched an exclusive clinical trial of GB-5267, an 'armored' CAR T therapy for ovarian cancer, and have dosed the first patient in the Phase 1 trial. The therapy is designed to avoid pre-infusion chemotherapy and targets the MUC16 biomarker, which is present in over 80% of ovarian tumors. This is a new clinical milestone for the company, expanding its pipeline into solid tumors. The trial launch follows positive Phase 1 data for GB-0895 in asthma and COPD disclosed in August. The company's cash position of $457.4 million supports advancement of this program.
At the time of this announcement, GENB was trading at $15.06 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $11.00 to $22.67. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.