The Californian-based biotech company Inhibrx (NASDAQ: INBX) has engineered nothing but smiles for its investors today, following a very positive Phase 1 clinical trial for the treatment of alpha-1 antitrypsin deficiency – known as AATD.
The results were announced earlier today through a live webcast presentation, providing interim results testing the safety and pharmacokinetics of their new treatment, INBRX-101. It didn’t take long for the market to react, and sure enough, the bulls took charge since the news became public – sending the stock price soaring to above the $34 mark – still retaining gains of roughly 25% at the time of writing.
The results exposed that the drug in question remained safe, with no severe or serious adverse events in dosages up to 120mg/kg in a total of 45 patients. Further testing will reveal another set of results in the first half of 2022.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Inhibrx CEO Mark Lappe said in a statement today:
“These initial data demonstrate the potential of INBRX-101 to significantly improve treatment for patients with AATD by maintaining them in the normal range of functional AAT and reducing infusions from 52 annually to possibly as few as 12 annually”
The INBX stock price currently sits at $34.61 in mid-Tuesday trading. The following days may see a loss of steam for the biotech company, but it might be one worth watching.
Should You Invest in Inhibrx Shares?
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
