2023-12-13 09:06:10 ET
Every now and then, you might find yourself looking at a premarket screener/mover list and notice some astronomical moves prior to the opening bell.
Thatâ€™s exactly what happened with a Texas-based %Biotech company after it was announced â€œinitial topline dose-expansion data from its ongoing Phase 1A/B clinical trial of SL-172154 in combination with AZA in frontline HR-MDS and TP53m AML patients.â€
Even thought the release went on to say even more technical data points, the short version of the release, and what we care most about on the trading/investing side of things is that traders were extremely optimistic on the news. Shares of %ShattuckLabs (Nasdaq: STTK) were bid up at $4.70/share (+122.75% implied open for sellers) at the time of writing. It should be a wild session for this small cap.
Shattuck Labs Inc is a clinical-stage biotechnology company pioneering the development of dual-sided fusion proteins as an entirely new class of biologic medicine. Its product candidate, SL-172154, has been rationally designed to simultaneously inhibit the CD47/SIRPa checkpoint interaction to restore an anti-tumor immune response and to activate the CD40 costimulatory receptor to bolster an immune response. Its product candidate, SL-279252, which is being developed in collaboration with Takeda Pharmaceuticals, or Takeda, has been rationally designed to simultaneously inhibit the PD-1/PD-L1 interaction and activate the OX40 receptor.
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