Here's Why Enochian BioSciences Stock Skyrocketed Today

Shares of Enochian BioSciences (NASDAQ: ENOB) soared on Monday after the biopharmaceutical company said the Food and Drug Administration (FDA) accepted its pre-investigational new drug request for a "potential functional cure" of HIV. 

As of 2:45 p.m. EDT, the biotech stock's price was up more than 100%.

Enochian BioSciences said its cellular therapy could potentially allow people with HIV to stop antiviral treatment for long periods. Its request to the FDA was based on the results of a 54-year-old man who was unable to suppress the virus with antiviral therapy. A treatment of Natural Killer (NK) and Gamma Delta T-cells (GDT) collected from another person subsequently allowed the patient to achieve viral control for 255 days -- without the use of antiviral drugs.

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Source Fool.com