Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.
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.
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.
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