24/7 Market News Snapshot 24 October, 2024 – ImmunityBio, Inc. Common Stock (NASDAQ:IBRX)

October 24, 2024

DENVER, Colo., 24 October, 2024 (247marketnews.com) – (NASDAQ:IBRX) are discussed in this article.
ImmunityBio, Inc. (IBRX) has announced the commencement of its groundbreaking QUILT 106 clinical trial, which marks a significant milestone in immunotherapy. This open-label Phase 1 trial focuses on a pioneering CAR-NK cell therapy targeting CD-19 for patients suffering from non-Hodgkin’s lymphoma (NHL). Today, the company’s stock opened at $3.50 and is currently trading at $3.845, showcasing an impressive increase of 11.13% from the previous close of $3.460. This surge in share price reflects strong investor interest, supported by a trading volume of 4.94 million shares, indicating enhanced market confidence in the company’s evolving prospects.

The QUILT 106 trial will initially dose patients with the newly developed high-affinity natural killer (t-haNK) cells as a monotherapy, setting the stage for subsequent evaluations of its effectiveness in combination with rituximab, the standard treatment for NHL. The study is designed to enroll up to ten patients, and the data generated is expected to provide critical insights into the safety and efficacy of CAR-NK therapies for treating CD19+ and CD20+ relapsed or refractory B-cell NHL.

Dr. Patrick Soon-Shiong, Executive Chairman and Founder of ImmunityBio, underscored the importance of this trial in advancing effective therapies for populations that historically have faced limited options in clinical research. As NHL remains one of the most commonly diagnosed cancers in certain demographics, the trial is set to address urgent treatment gaps, with full enrollment anticipated by the first quarter of 2025 and initial results projected for the latter part of the year.

By leveraging its expertise in innovative immunotherapies, ImmunityBio aims to reshape cancer treatment paradigms and substantially improve patient outcomes, particularly for underrepresented communities.

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