Get the Latest Investment Ideas Delivered Straight to Your Inbox.

TICKERS: ENOB

Enochian Shares Trade Up 50% upon Concluding FDA Meeting for Potential HIV Cure

Source:

Shares of Enochian Biosciences reached a new 52-week high after the company reported that it successfully completed its FDA INTERACT meeting for ENOB-HV-01, a potential cure for HIV.

Gene-modified cellular and immune therapies company Enochian Biosciences Inc. (ENOB:NASDAQ) today announced "the completion of an Initial Targeted Engagement for Regulatory Advice (INTERACT) meeting with the U.S. Food and Drug Administration (FDA) Center for Biologics Evaluation and Research (CBER) Office of Tissues and Advanced Therapies (OTAT)."

The company advised that the meeting included management and scientists from Enochian BioSciences together with CBER OTAT staff. The INTERACT meeting's purpose was said to discuss the direction forward for ENOB-HV-01; "ENOB-HV-01 is a novel approach to autologous stem cell transplantation, with the potential to cure HIV by increasing engraftment of gene-modified cells that are resistant to HIV infection.".

Dr. Mark Dybul, executive vice-chair of Enochian BioSciences, remarked, "We considered the meeting to be very successful, with strong alignment between Enochian's approach to developing ENOB-HV-01 and the comments of the FDA reviewers...I want to thank the reviewers from FDA CBER OTAT for their time and helpful insight during our meeting. We look forward to advancing our thoughtful and deliberate pre-clinical work during the remainder of this year and into early next, leading to a pre-IND submission in 2021."

The company's Scientific Advisory Board Chair and former Chief Medical Officer of Calimmune Dr. W. David Hardy commented, "The novel approach we are pursuing has the potential to overcome the challenges of engraftment commonly encountered by others in the field. While still early, thus far the data have exceeded my expectations, and I believe the FDA reviewer feedback was very much aligned with our development plan. After more than 30 years as an HIV clinician and researcher, it is a great privilege to be involved with an enterprise with the potential to cure HIV, offering hope to millions of people."

Enochian BioSciences is a biopharmaceutical company based in Los Angeles, Calif. The firm in engaged in developing and commercializing gene-modified cell therapies. The company noted that it gene-modified cell therapy platform can be utilized in many indications, including HBV, HIV/AIDS and oncology. The company states on its website that in 2017, 36,900,000 people throughout the world were living with HIV and 1,000,000 AIDS related deaths were reported in that same year worldwide.

Enochian started off the day with a market capitalization of around $191.6 million with approximately 46.5 million shares outstanding and a short interest of about 2.8%. ENOB shares opened greater than 220% higher today at $13.25 (+$9.13, +221.60%) over Friday's $4.12 closing price and reached a new 52-week high price this morning of $13.43. The stock has traded today between $6.39 and $13.43 per share and is currently trading at $6.20 (+$2.08, +50.49%).

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.




Learn More about Which Online Broker is Right for You?

Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe