Stock of GT Biopharma Inc. (NASDAQ: GTBP) gained 15.29% or $1.26 in Tuesday’s trading session, closing the day at $9.50 a unit. GT Biopharma stock 52-week low has now moved to $2.04 with the GTBP stock 52-week high at $13.09 per share.
The GTBP stock price has increased in the absence of significant news, but recent developments suggest that the company is heading in the right direction.
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GT Biopharma is an immuno-oncology biopharmaceutical company focusing on the development and commercial-sale of proprietary TriKE NK cell engagers. Using GTBP’s TriKE platform, patients’ natural killer cells (NK cells) will be enhanced to deal with cancer. The University of Minnesota has an exclusive license agreement with GTBP to further develop and commercialize TriKE-powered therapies.
GT Biopharma recently released interim Phase I/II trial results for GTBP Lead Therapy candidate GTB-3550 TriKE. GTBP tested TriKE for the treatment of refractory/relapsed acute myeloid leukemia (AML) and high-risk myelodysplastic syndromes (MDS).
At the Innate Killer Summit 2021, held March 23-25, GTBP’s Deputy Director of the Masonic Cancer Center and GTBP’s Chief Medical Officer presented a progress report on the trial. Using interleukin-15 (IL-15) containing TriKEs, Dr. Miller’s presentation, “NK Cell Therapeutics: Off-the-Shelf Strategies for Increased Activity and Specificity,” highlighted the clinical relevance of immune engagement with these drugs.
Outcome of the trial in brief:
GT Biopharma (GTBP) data demonstrated that GTB-3550 therapy reduces blast levels in the bone marrow quite significantly compared to using expensive autologous/allogeneic cellular therapies in patients with AML and MDS.