Indaptus Therapeutics Inc. (NASDAQ:INDP) Stock Jumps As FDA Gives Green Signal to Initiate Phase 1 Clinical Trial of Decoy20 in Solid Tumors

Indaptus Therapeutics Inc. (NASDAQ: INDP) was up 19% after the US Food and Drug Administration cleared its Investigational New Drug Application for first phase clinical trial in advanced solid tumors patients where currently available therapies have failed.

Trading Data

On Thursday, INDP stock moved up 18.80% to $2.97 with 25.51 million shares, compared to its average volume of 452K shares. The stock moved within a range of $2.8000 – 3.1800 after opening trade at $2.97.

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Indaptus Therapeutics Announces FDA Clearance of Investigational New Drug Application to Initiate Phase 1 Clinical Trial of Decoy20 in Solid Tumors

This clinical trial is expected to commence in 2H 2022. CEO Jeffrey Meckler said that they are delighted to start their first in-person trial of Decoy20 since there is still a considerable unmet medical need for advanced solid tumors patients. He added that this is a major milestone for the company, which brings it closer to its target of showing the use of antigen-agnostic and multi-targeted, systemic immunotherapy, which activates adaptive and innate anti-tumor immune responses.

The study is a first phase open-label dose expansion and escalation study assessing the tolerability, safety, and initial efficacy of Decoy20 in advanced solid tumor patients. Meckler said they are looking forward to showing Decoy20’s safety profile and developing a novel therapy for solid tumors. So in the coming weeks, investors should watch INDP.

Key Quote

“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,” said Jeffrey Meckler, Chief Executive Officer of Indaptus.

Technical Data

INDP stock is below the 50-Day and 200-Day Moving averages of $3.36 and $5.89 respectively. However, the stock is trading above the 20-Day moving average of $2.81.