Benzinga | Oct 28, 2021 12:13PM EDT

Why Did HCW Biologics Shares More Than Double Today?

* Recently listed HCW Biologics Inc (NASDAQ:HCWB) shares almost doubled during premarket Thursday, after FDA signed off Phase 1b trial of its lead candidate in pancreatic cancer.

* The drug candidate, HCW9218, is an injectable, fusion protein complex designed to drive bifunctional, anti-tumor activity while simultaneously blocking unwanted immunosuppressive activities.

* In preclinical studies, HCW9218 enhanced the anti-tumor efficacy of chemotherapy docetaxel and gemcitabine plus nab-paclitaxel against melanoma and pancreatic cancer, respectively, and simultaneously alleviated the off-target, unwanted effects of chemotherapies on normal tissues.

* In animal models, HCW9218 also augmented anti-tumor activities of therapeutic and checkpoint antibodies.

* Related content: Benzinga's Full FDA Calendar.

* Price Action: HCWB shares are up 101.4% at $5.88 during the market session on the last check Thursday.