A Beverly Hills-based biotech company just announced the filing of U.S. and international patent applications, and the initiation of clinical development of TriKE™ therapy for the treatment of HER2+, HER3+ and HER2+/HER3+ heterodimer complex breast and gastrointestinal cancers. GT Biopharma Inc’s (OTCQB:GTBP) CEO commented that they "are pleased our HER2 TriKE™ therapeutic product candidate has shown good efficacy in animal models enabling us to initiate GMP manufacturing for FDA clinical trial development."
GT Biopharma Inc is an immuno-oncology company operating in the United States. It is engaged in discovering, developing and commercializing novel therapeutics from its proprietary product platform in a varied range of disease areas. The company mainly develops drugs focused on the treatment of cancer.
Its key drug candidates are OXS-2175, targeting the treatment of triple-negative breast cancer; OXS-4235, targets the treatment of multiple myeloma and associated osteolytic lesions; and OXS-1550, targets cancer cells expressing the CD19 receptor and CD22 receptor. Its TriKE and TetraKE platforms offer immuno-oncology products that can treat a range of hematologic malignancies, sarcoma, and solid tumors.
Traders were enthusiastic on the news as shares traded to an early session high of $0.687/share (+19%) following the news. This move is a sharp continuation of the success this stock has had this year, coming from a 52-week low of just $0.08/share.
