NKGen Biotech Inc NKGN shares traded greater on Monday, with a powerful session quantity of 19.25 million, in comparison with a median 100-day quantity of two.85 million, based on information from Benzinga Professional.
Nevertheless, there isn’t a information to justify the +20% improve within the inventory worth.
NKGen Biotech will current particulars about its NK cell remedy for neurodegenerative illness, evaluation its preclinical information for Parkinson’s illness, and spotlight scientific security and efficacy information from the lately accomplished Section 1 trial of SNK01 for Alzheimer’s illness on the twelfth Annual Alzheimer’s & Parkinson’s Drug Growth Summit.
Earlier this month, NKGen Biotech closed $5 million in second-lien convertible mortgage funding with a time period of 30 months, augmenting roughly $4.75 in gross money proceeds from prior 2024 funding up to now.
“We’re intently centered on our upcoming Section 2 Alzheimer’s scientific trial and lately submitted an IND for Parkinson’s illness whereas streamlining our assets for max effectivity. Accordingly, we now have efficiently decreased our month-to-month burn price for operations and scientific trials by nearly 50%. As well as, we now have a number of catalysts anticipated this yr, together with information readouts (each security and cognitive) for the Section 1 portion of our reasonable Alzheimer’s trial and the initiation of Section 2,” stated Paul Tune, Chairman and CEO.
Worth Motion: NKGN shares are up 29.30% at $1.43 on the final verify Monday.
Photograph by hans-reniers for Unsplash
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