- Indaptus Therapeutics (INDP) stock price soared 27.2% on IND approval.
- The US FDA approved the firm’s phase 1 clinical trial of its Decoy20 drug.
- However, investors should remember that the firm still has a long way.
The Indaptus Therapeutics Inc (NASDAQ: INDP) stock price soared 19.2% after the US Food and Drug Administration (FDA) approved its Investigational New Drug (IND) application for a Phase 1 clinical trial in patients with advanced solid tumours.
The patients targeted by the new study are people who have failed to respond to the currently approved therapies. The company plan to start the phase 1 clinical trial in the second half of 2022. However, there is still a long journey ahead for the biotech company before its Decoy20 drug candidate can reach commercial stages.
Investors were pleased with the news, as evidenced by the rally in the Indaptus stock price.
The Indaptus Therapeutics CEO, Jeffrey Meckler, said: “We are excited to begin our first-in-human study of Decoy20, as there is still a significant unmet medical need for patients with advanced solid tumors. This is an important milestone for Indaptus, which brings us one step closer to our goal of demonstrating the utility of a multi-targeted and antigen-agnostic, systemic immunotherapy that primes and activates both innate and adaptive anti-tumor immune responses,”
Dr Michael Newman, Indaptus’ Founder and Chief Scientific Officer, said: “Tumors remodel and inhibit systemic immune responses, and Indaptus’ Decoy technology is unique in its ability to mobilize both innate and adaptive anti-tumor immune pathways with systemic administration in pre-clinical tumor models, while at the same time not inducing sustained hallmarks of cytokine release syndromes in pre-clinical toxicology studies,”
Investors looking to buy Indaptus shares should remember that the company just started its phase 1 clinical trials, and there are no guarantees that the trials shall be successful.
The biotech sector has suffered a massive selloff recently, and we cannot rule out a further decline in the sector. I would consider buying Indaptus shares if they can hold above $3 for a few days.
*This is not investment advice. Always do your due diligence before making investment decisions.
Indaptus stock price.
Indaptus Therapeutics stock price soared 27.2% to trade at $3.18, rising from Wednesday’s closing price of $2.50.