Heat Biologics Inc. stock soared as much as 27 percent Tuesday morning after it was announced the company had been granted a Type C meeting with the U.S. Food and Drug Administration to discuss one of its drugs.
The meeting concerns a non-small cell lung cancer trial based upon positive Phase 2 data.
The NSCLC trial uses HS-110 which stimulates a patient’s immune system to activate a T-cell response. The drug works in combination with Bristol Myers-Squibb’s Opdivo.
The biopharmaceutical company develops drugs designed to activate a patient’s immune system against cancer. Heat developed off-the-shelf ImPACT therapeutic vaccines that combat various cancers and infectious diseases.
Heat shares were up 9 cents, or 16 percent, to 62 cents in midday Tuesday trading after being as high as 71 cents.
“We are adapting to the changing landscape of cancer immunotherapy by incorporating novel combinations and very much look forward to progressing our study,” stated Chief Executive Officer Jeff Wolf in a statement.
Wolf has specialized in life-science start-ups including Avigen, a gene therapy company, TyRx Pharma, EluSys Therapeutics, focused on developing antibodies for infectious diseases, and GenerationOne, a mobile-based healthcare solutions company.
Heat is currently conducting a separate clinical trial working to treat Non-Muscle Invasive Bladder Cancer.
The press release can be found here.