Why the FDA Is Pushing Curis Stock So Much Higher
Curis shares jumped on Wednesday after the company announced a critical update from the FDA.
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Curis Inc. (NASDAQ: CRIS) shares jumped on Wednesday after the company announced that the U.S. Food and Drug Administration (FDA) had cleared its Investigational New Drug (IND) application for CI-8993, the first-in-class monoclonal anti-VISTA antibody.
VISTA is a novel negative checkpoint ligand that is homologous to PD-1/PD-L1 and suppresses T cell activation. So anti-VISTA therapy helps to increase the count of T-cells, which in turn fight different cancers.
Certain cancers, such as mesothelioma, triple-negative breast cancer, non-small cell lung cancer and gynecologic malignancies, are known to be highly driven by VISTA. These cancers may be amenable to monotherapy treatment with anti-VISTA therapy.
In other cancers, anti-VISTA therapy may be more effective as part of a combination approach.
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Curis plans to initiate a Phase 1a/1b study of CI-8993 in the second half of 2020.
James Dentzer, president and CEO of Curis, commented:
The clearance of our IND is an important step for the advancement of VISTA therapies, as CI-8993 becomes the first anti-VISTA antibody in development to enter clinical testing. When activated, VISTA plays a critical role in suppressing T cell activity. Conversely, it has been shown in preclinical studies that blocking VISTA reduces the suppression of T cells and reactivates anti-tumor immune function. We are eager to leverage our extensive experience with VISTA and pioneer this first-in-class anti-VISTA antibody program.
Curis stock traded about 71% to $2.09 on Wednesday, in a 52-week range of $0.62 to $2.90.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
