Just before the opening bell this morning, Adagene Inc. (ADAG) shares launched up just 1.52% at $18.00. The Adagene stock price started to raise premarket after positive news, but that didn’t last and stock price leveled off to the same price it closed at the last session.
The ADAG stock in the last trading session finished at $17.73, which was basically on par with the prior session’s closing price. Trading volume for the day was 12757 shares, well below the daily trading volume of 50K shares published for the past 30 days. In the last five days, ADAG stock dropped -15.37%; and this decline grows to -28.68% in the past one month.
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What was the positive news?
Adagene is a clinical-stage biopharmaceutical company devoted to developing antibody-based cancer immunotherapies using a platform of proprietary technologies. In addition to traditional algorithms, ADAG employs artificial intelligence to help create antibodies that help treat unmet patient needs. ADAG’s highly differentiated pipeline features novel immunotherapy programs powered by its proprietary DPL platform, which comprises NEObody, SAFEbody, and POWERbody technologies. With multiple strategic partnerships with international companies, ADAG uses its technology to advance science in multiple approaches.
Adagene announced today interim dose-escalation results through 0.3 mg/kg of ADG116.
- The data is part of the ongoing Phase 1 clinical trial in Australia evaluating the safety and tolerability of ADG116 in patients with advanced/metastasized solid tumors.
- ADAG’s proprietary NEObody platform enables the production of ADG116, a fully human, anti-CTLA-4 monoclonal antibody.
- ADG116 features an entirely new mechanism of action that balances safety and effectiveness.
- In combination with CTLA-4 ligand inhibition or depletion of the Treg via strong antibody-dependent cellular cytotoxicity, ADG116 maintains its original physiological function.
Even with the limited number of CTLA-4 checkpoint inhibitors on the market, ADG116 by Adagene (ADAG) could be used as a monotherapy agent or in combination with existing anti-tumoral agents and ADAG’s this highly differentiated immunotherapy could potentially treat patients who are not responding to mainstream immune therapies.