Publish date:

Heat Biologics Jumps on Progress With Lung-Cancer Drug

Heat Biologics shares more than doubled after the biopharma reported progress in a trial of a lung-cancer-treatment candidate.
Author:

Heat Biologics  (HTBX) - Get Heat Biologics, Inc. Report shares more than doubled after the biopharma reported progress in a trial of a lung-cancer-treatment candidate. 

The Durham, N.C., company is developing HS-110 for non-small-cell lung cancer patients. HS-110 used in combination with Bristol-Myers Squibb's  (BMY) - Get Bristol-Myers Squibb Company Report Opdivo  displayed "substantial survival" benefits, Heat Biologics said.

"HS-110 is the lead candidate in our portfolio of therapeutic products and vaccines utilizing Heat's gp96 technology platform and showcases the broad utility of this platform for [non-small-cell lung cancer] and potentially other types of cancer," Chief Executive Jeff Wolf said in a statement. 

Heat Biologics shares at last check were up 67% to $13.95. They have traded on Tuesday at as much as $17, up from Monday's close of $8.37. The 52-week high above $30 was set in July.

TheStreet Recommends

Median overall survival for patients treated with the HS-110-Opdivo combination was 24.6 months, the company said.

At this interim stage, about 30% of the patients enrolled in the group A part of the study and 26% of patients in the B part of the study are still alive. 

The treatment has been administered to about 200 patients to date. There have been no serious adverse reactions to the drug, Heat Biologics said Tuesday. 

The company says it is evaluating possible Phase 3 registration pathways for HS-110 in combination with a checkpoint inhibitor. It "intends to review those plans with the Food and Drug Administration as well as potential partners," Wolf said. 

Heat Biologics is also working on a COVID-19 vaccine and is currently in the preclinical stage of testing that drug.