NKGN Stock Alert: The Alzheimer’s News That’s Sending NKGen Biotech Soaring Today

NKGen Biotech (NASDAQ:NKGN) The stock is booming on Monday after the clinical-stage biotech company received an update on its Phase 2 clinical trial.

The company says its safety review board has given the green light to begin its Phase 2 clinical trial of SNK01. This is a drug the company is developing to treat moderate Alzheimer’s disease.

This came after the company reported outstanding results from its Phase 1 clinical trial. These include improved or preserved cognitive abilities after four doses. There were also no adverse effects of the treatment.

This new pathway will result in NKGen Biotech treating a larger number of patients over a longer period of time. This results in 20 patients receiving 20 doses of SNK01, while 10 patients receive 10 doses of placebo.

Paul Song, Chairman and CEO of NKGen Biotech, had this to say about the news.

“We are also very pleased with the clinical progress we have made to date in research in moderate Alzheimer’s disease and look forward to generating additional important clinical and biomarker data from our randomized, placebo-controlled Phase 2 study. “

NKGN stock movement today

With this news comes heavy trading in NKGN shares on Monday. As of this writing, there are more than 26 million shares outstanding. This is well above the daily average trading volume of 3.7 million shares.

NKGN stock is up 54% since Monday morning.

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At the time of publication, William White did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.

Article printed by InvestorPlace Media, https://investorplace.com/2024/05/nkgn-stock-alert-the-alzheimers-news-that-has-nkgen-biotech-soaring-today/.

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