Why Did INKT Stock Surge 70% In Pre-Market Today?
Synopsis
MiNK Therapeutics tied up with an oncology consortium to develop a cell therapy targeting pediatric cancers.
Shares of MiNK Therapeutics (INKT) soared more than 70% in pre-market trading on Tuesday after the company announced a collaboration with the C-Further, an oncology consortium, to develop a cell therapy targeting pediatric cancers.
The program will focus on a PRAME-targeted TCR-engineered invariant natural killer T (iNKT) cell therapy to treat pediatric tumors. Preferentially Expressed Antigen in Melanoma, or PRAME, is a tumor antigen found in several cancers.
By combining PRAME-targeting with MiNK’s iNKT cell platform, the therapy aims to precisely attack tumors while also activating broader immune responses.
The program will receive around $1.1 million in funding to support its early-stage development, and the agreement also provides for a double-digit share of future commercial revenues, the company added.
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