Why Alaunos Therapeutics Topped the Market on Tuesday

What happened

One of the better-performing biotech stocks of recent days and weeks, Alaunos Therapeutics (TCRT 0.34%) landed in positive territory on Tuesday. The company’s share price inched up marginally, but that was good enough to beat the decline of the S&P 500 index. Investors were cheered by a clinical update from Alaunos. 

So what

Alaunos, which concentrates on T-cell receptor therapies, announced early clinical findings from a phase 1/2 trial of its TCR-T Library. The trial aims to evaluate the effect of TCR-T cells designed and developed by the company on patients with a variety of cancers.

Alaunos said that the first patient dosed had a confirmed objective partial response to the treatment. This recipient has been diagnosed with non-small cell lung cancer. The biotech quoted its CEO Kevin Boyle as saying that “This is the first time that an objective clinical response has been observed in a solid tumor cancer in connection with non-viral TCR-T cell therapy.”

Alaunos added that a second patient, suffering from colon cancer, has also been dosed and has passed the 28-day safety window.

Now what

The investor response to this news was likely muted because these results derive from a very early stage of the TCR-T cells’ testing. Nevertheless, at this point the development of these potentially ground-breaking therapies continues to look encouraging.

Alaunos said it will continue enrolling patients for the trial. It also said it will present additional data at the annual CRI-ENCI-AACR International Cancer Immunotherapy Conference, an industry gathering, on Friday, Sept. 30.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Read More: Why Alaunos Therapeutics Topped the Market on Tuesday

2022-09-06 15:46:00

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