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Scopus Biopharma (SCPS) Stock Skyrockets After IND Approval

Updated: 24 May 2021

Scopus Biopharma's (NASDAQ: SCPS) share price has rocketed on Monday after the company announced the approval of an investigational new drug application (IND) by the United States Food and Drug Administration (FDA).

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The approval is for the biopharmaceutical company's lead drug candidate, CpG-STAT3siRNA, an immuno-oncology RNA therapy for the treatment of multiple cancers.

A Phase 1 clinical trial for B-cell non-Hodgkin lymphoma will now be initiated by Scopus at City of Hope, a world-renowned independent research and treatment centre for cancer, diabetes and other life-threatening diseases.

Scopus Biopharma's stock price had been trading around the $5 level since early May but has today run to highs of $19.95. It is currently trading at $15.26, up 156% from Friday's close of $5.96.

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