Why Alaunos Therapeutics' Shares Jumped 48.9% This Week
Shares of Alaunos Therapeutics (NASDAQ: TCRT) jumped 48.9% this week, according to data from S&P Global Intelligence. The company, which specializes in oncology cell therapies using its non-viral Sleeping Beauty gene-transfer technology, closed last Friday at $1.80 and opened Monday at $1.77. The stock jumped to $2.07 on Wednesday and then ran all the way to $2.68 on Thursday, its 52-week high, before closing at $2.42. The stock is up more than 122% this year.
The move up was merely an acceleration for a stock that has been climbing all year. There are several reasons behind that.
The company has a clinical and strategic collaboration with the National Cancer Institute. It has an early-stage TCR-T T-cell therapy trial for a therapy that targets cancer-causing mutations across six solid tumor indications. It also recently said it is set to release phase 1 results from its therapy to treat advanced non-small-cell lung cancer at an International Cancer Immunotherapy Conference in New York on Sept. 30.
Source Fool.com
