Shares of the cancer immunotherapy company NantKwest (NASDAQ: NK) are up by a healthy 36.6% as of 11:20 a.m. EST Monday morning. The biotech's shares are moving north today for two key reasons:
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Prior to this merger agreement, NantKwest's quest to become a leader in immuno-oncology through its natural killer cell therapy platform wasn't going quite as planned. The biotech's shares, in fact, were down by almost 60% since their initial public offering (IPO) last Friday, all thanks to a lack of substantial progress in the clinic.
Source Fool.com