Benzinga | Oct 15, 2020 10:36AM EDT

Why NantKwest's Stock Is Trading Higher Today

NantKwest (NASDAQ:NK) shares are trading higher on Thursday after the company announced it has received authorization from the FDA to begin a Phase I clinical trial of hAd5-COVID-19, the company's COVID-19 vaccine candidate.

NantKwest is a United States-based firm functioning in the healthcare sector. It is focused on providing immunotherapeutic agents, especially natural killer cells to treat cancer, infectious and inflammatory diseases. Natural Killer (NK) cells are ancient cells in the human body designed to recognize and detect cells under stress or infected.

NantKwest shares traded up 9.83% to $9.94 on Thursday. The stock has a 52-week high of $15.70 and a 52-week low of $1.05.