Wednesday, May 29, 2024
Dividend Stocks

Why Is Harpoon Therapeutics (HARP) Stock Up 100%+ Today?

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Harpoon Therapeutics (NASDAQ:HARP) stock is taking off on Monday following the release of updated results from its myeloma drug candidate.

HPN217 is the company’s drug candidate currently undergoing a Phase 1 clinical trial. The latest interim results are based on data collected as of the cut-off date of Oct. 17. It shows clinical activity and a “tolerable safety profile” in pre-treated patients with relapsed/refractory multiple myeloma (RRMM).

The company notes in the results that it saw a low incidence of cytokine release syndrome (CRS) at the high dosage levels of HPN217. Low-grade CRS was observed in 29% of patients following the first or second doses of the drug. Also, there were no incidents of “Grade 3 or higher CRS.”

What That Means for HARP Stock

Chief Medical Officer Luke Walker of Harpoon Therapeutics said the following in a press release:

“These data support our continued clinical development efforts, and we look forward to continuing dose optimization with ongoing patient enrollment in the Phase 1 trial expected to reach completion in the first half of 2023.”

HARP stock is seeing heavy trading on Monday as investors react to the news. This has some 59 million shares of the stock changing hands as of this writing. That’s a major surge over the daily average trading volume of about 197,000 shares.

HARP stock is up 118% as of Monday morning.

Investors can learn more about the latest stock market news today below!

We’ve got all of the hottest stock stories traders need to know about on Monday! Among that is what has shares of Tonix Pharmaceuticals (NASDAQ:TNXP), HTG Molecular Diagnostics (NASDAQ:HTGM) and Rivian (NASDAQ:RIVN) stock on the move. You can find out more at the following links!

More Monday Stock Market News

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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