(Nkarta) Shares of Nkarta Inc. rose more than 92% on Monday after the company announced positive outcome from a Phase 1 trial of its cancer treatment.
Nkarta said that its NKX101 and NKX019, the leading candidates, demonstrated a “striking single-agent activity” in pretreated patient populations.
The company said that the treatment candidates’ trials demonstrated an “exceptional safety” with no side effects associated with CAR T cell therapies.
Following the improved trial results, analysts, led by Cowen’s Salim Syed, initiated the company with a buy rating and a price target of $81. Syed said that the company’s announced development is a major plus, although more durability of data is needed.
