Advances in cancer treatment boost the shares of a pharmaceutical company by almost 600%

The company highlighted the feasibility of outpatient administration and noted the lack of CAR-T treatments approved by the US health regulator, the FDA, for this condition

Reuters

Mustang Bio (MBIO, on the NASDAQ) saw its shares sand they shot 580% on Monday after reporting positive data from a Phase 1/2 trial for its CAR-T cell therapy MB-106. The treatment showed an overall response rate of 90% in patients with Waldenström macroglobulinemia, a type of non-Hodgkin lymphoma.

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That meteoric rise in its shares extended to this Tuesday, When after the opening of the market, the pharmaceutical company’s shares rise 54.5%. In this way, in the last few hours the pharmaceutical company has recorded an advance of almost 700% in the value of its shares that are listed at $1.19.

The company highlighted the feasibility of outpatient administration and noted the lack of CAR-T treatments approved by the US health regulator, the FDA, for this condition. Mustang presented the data at the European Hematology Association Hybrid Congress 2024.

The pharmaceutical study

At the moment, There are 10 patients in this study and nine of them have responded favorably to MB-106. This includes three full answers, two very good partial answers, and four partial answers. The last patient has achieved stable disease.

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Mustang Bio also notes that one of the patients who achieved a complete response has remained in remission for 31 months. Safety data have also been positive, with nine patients experiencing grade 1 and grade 2 cytokine release syndrome.

Brian Till, MDAssociate Professor and Physician at Fred Hutch and the University of Washington, commented on these results: “We are highly encouraged by the safety and efficacy data generated in Waldenström macroglobulinemia, along with improvements in the quality of responses over time, demonstrating the expansion and persistence of MB-106 CAR-T cells“.

 
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