What an incredible two days it has been for Mustang Bio (NASDAQ:MBIO). On Wednesday, April 17, the company announced that it entered a licensing agreement with St. Jude Children’s Research Hospital to develop the lentiviral gene therapy to treat “bubble boy” disease. Today, MBIO stock is soaring, currently up more than 100%.
Here’s what we know.
MBIO Stock Soaring Because of New Mustang Bio Licensing Agreement
Yesterday, Mustang Bio posted a press release stating it has entered into a licensing agreement with St. Jude Children’s Research Hospital. Together, the lentiviral gene therapy will be developed to treat XSCID disease, or “bubble boy” disease. The treatment will be for commercial use.
The New York-based company also said the New England Journal of Medicine has published data from an early stage gene therapy trial (Phase 1/2 study), which looked at the lentiviral gene therapy for infants under two with the disease.
We’re thrilled to announce that @StJudeResearch has published results in @NEJM on the lentiviral gene therapy for treatment of infants with X-linked severe combined immunodeficiency, which we licensed last August: https://t.co/mAM9Gm1TEP #XSCID $MBIO
— Mustang Bio (@Mustang_Bio) April 17, 2019
The data from the Phase 1/2 study was positive, with the following reported as highlights:
- Bone marrow harvest and cell infusion were well tolerated, according to Market Watch. Busulfan conditioning was as well.
- All patients involved in the study are growing normally and “cleared previous infections,” says Market Watch.
Further details about the study can be found here.
Speaking on the news, Ewelina Mamcraz, who is an assistant member at St. Jude, said: “the results have been very good,” and they have “been able to restore a full immune system pretty quickly.”
According to Yahoo Finance, as of 3:20 PM, MBIO stock is trading at $5.95, which puts it up 123.31%.
In premarket trade, MBIO stock was reportedly up a whopping 257%.
For Those Who Don’t Know
Mustang Bio is a clinical‐stage biopharmaceutical company based in New York. The company focuses on the development and commercialization of immunotherapies and gene therapies.
The trading day isn’t over yet. Do you think MBIO stock can close up more than 300%?
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Featured image: DepositPhotos © Lenets_Tatsiana