By Stephen Nakrosis
Shares of Marker Therapeutics Inc. were trading higher Friday, continuing momentum from the after-hours market Thursday following news the U.S. Food and Drug Administration approved the company's investigational new drug application for MT-601 to treat certain patients with non-Hodgkin lymphoma.
At 11:26 a.m. ET, the company's stock had risen 55% to trade at 51 on Nasdaq. Volume at the time topped 51.1 million shares, above the stock's 65-day average volume of 373,289 shares.
Following the news of the FDA approval Thursday, Marker shares rose in the late-trading market. The stock closed Thursday's regular session at 33 cents and opened at 60 cents on Friday.
Peter Hoang, the company's president and chief executive, said: "FDA clearance of our IND for MT-601 is a significant milestone as we advance our pipeline in a number of company-sponsored trials." He said that MT-601 targets six tumor-associated antigens highly expressed in lymphoma, and Marker looks plans to initiate a company-sponsored Phase 1 study next year.
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(END) Dow Jones Newswires