It was a fairly good day in the markets for investors in Nascent Biotech Inc (OTCMKTS:NBIO) as the stock ended up with gains of as much as 4% for the day following an announcement from the company. The clinical stage biotech firm announced yesterday that it had been successful in concluding the fourth cohort in dosing patients for the Phase 1 trial for the evaluation of its product Pritumumab.
Trading Data
On Tuesday, NBIO stock surged 3.76% to $0.3699 with more than 163.40K shares, compared to volume of 305.92K shares. The stock moved within a range of $0.3381 – 0.3850 after opening trade at $0.3381.
Nascent Biotech Completes Fourth Cohort in Phase 1 Human Trial for Primary and Metastatic Brain Cancer
The product in question is meant for treating brain cancer as well as metastatic and primary brain tumors. This was a significant development for Nascent Biotech since after the completion of this cohort, the data from the four cohorts are going to be gathered and then a fifth cohort is going to be done.
The fifth cohort is going to be the final one. The company is actively involved in patient enrollment at this point in time. Once the fifth cohort is completed, the Phase 1 trial for the product would be officially completed. Following that, Nascent is going to be involved in preparing the data for submission to the United States Food and Drug Administration before it can start its preparations for the Phase 2 clinical research.
Key Quote
“Having completed four cohorts, we are enthusiastic about moving to our fifth and likely final cohort in the Phase I trial,” noted Nascent CEO, Sean Carrick. “The data received so far has been very encouraging. We will continue to perform PK studies on the fourth and fifth cohorts to support an upcoming data submission to the FDA.”
Technical Data
NBIO stock is trading above the 20-Day and 50-Day Moving averages of $0.37 and $0.34 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.16. The company has a total market capitalization of $43.27 million.
