Scopus BioPharma Inc. (NASDAQ: SCPS) stock surged by 20.76% at last close whereas the SCPS stock price declines by 7.44% in the after-hours trading session. Scopus BioPharma is a clinical-stage pharmaceutical firm creating transformative medicines for severe illnesses with large unmet medical needs, both directly as well as through subsidiaries. A new, targeted immuno-oncology RNA therapy for the cure of various malignancies is the company’s primary therapeutic candidate.
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SCPS stock’ Current Development
Duet Therapeutics has been launched by Scopus BioPharma. Duet Therapeutics combines the administration and clinical development of Scopus with Olimmune’s immunotherapy assets, which Scopus bought in June 2021. Scopus has a wholly-owned subsidiary called Duet. DUET-01 is being tested as a monotherapy for B-cell non-Hodgkin lymphoma in a Phase 1 clinical study. Duet plans to file two INDs for DUET-02 in 2022, one for genitourinary cancer and the other for head and neck cancer. Duet is also testing checkpoint inhibitors in combo treatments.
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Joshua R. Lamstein, Chairman of Scopus, commented,
Duet Therapeutics has officially launched, and they are really thrilled about it. Scopus and Olimmune have combined their immuno-oncology assets to develop a comprehensive, industry-leading portfolio of bi-functional cancer-targeting oligonucleotides. All of their IP-protected STAT3 inhibitor solutions are very complimentary. Their oligonucleotide technologies, they think, are distinct, better, and superior to other STAT3 inhibitors now in development.
Alan Horsager, President and CEO of Duet and President, Immuno-Oncology for Scopus, commented,
It’s a once-in-a-lifetime chance to manage the integration and clinical development of Duet’s immuno-oncology platform. It’s an honor to be a part of the integration and development of Duet’s medication prospects. They think their oligonucleotide platform has great potential to solve one of society’s most critical unmet medical needs – novel therapies, and perhaps cures, for many different forms of cancer, based on a huge body of scientific research. Making new standards of care, improving patient care, and saving lives is the most important professional objective he can think of.