FDA Clears IND for GTB-5550 in Multiple Myeloma, Expanding TriKE Platform
GTBP has more than doubled off its 52-week low of $4.91 on elevated volume (10× avg).
Summary
GT Biopharma received FDA clearance of an IND for GTB-5550 in multiple myeloma, adding a third potential Phase 1 trial to its pipeline. The trial will be investigator-sponsored and initiation is contingent on non-dilutive grant funding. The company also disclosed a proforma cash balance of approximately $11 million as of September 15, 2026, which it expects to fund operations into Q3 2027. This follows the recent 1-for-25 reverse split and a $7.45M private placement, and provides a new clinical catalyst for the stock. The solid tumor Phase 1 trial for GTB-5550 continues enrollment with an update expected in Q4 2026.
At the time of this announcement, GTBP was trading at $11.29 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $21M. The 52-week trading range was $4.91 to $34.25. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.