Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
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).
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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