Why Did BriaCells Stock Skyrocket 155% Today?

June 03, 2021 10:05 AM AEST | By Team Kalkine Media

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Why Did BriaCells Stock Skyrocket 155% Today? — Image source: MVelishchuk,Shutterstock

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Summary

Biotechnology company BriaCells (NASDAQ:BCTX) has reported that its immunotherapy treatment proved effective in breast cancer patients.

It said that one of its patients survived 21 more months after receiving the treatment.

The stock jumped 155% after it presented the findings. The stock gained around 93% YTD.

The stock of biotechnology company BriaCells Therapeutics Corp (NASDAQ:BCTX) jumped 155% on Wednesday after presenting an update on its breast cancer treatment. The company reported breakthrough in breast cancer and Eye Bulging tumor cure.

BriaCells’ Cancer Treatment

The company today reported overall survival data on its previously disclosed patients. These women were treated with BriaCells' immunotherapy treatment that proved beneficial. Cells with human leukocyte antigen (HLA) molecules on their surface determine and trigger our body's immune response. The company's immunotherapy treatment appears most effective when the patient's HLA type matches Bria-IMT, BriaCell's lead candidate. That allows BriaCell to identify patients that are likely to respond. Also, the HLA test is not expensive.

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Its top responder was a breast cancer patient, about whom the company had disclosed on January 13, 2020. She responded positively to the immunotherapy of BriaCell. The patient had undergone intensive chemotherapy treatment due to a tumor behind her left eye and was in a worse condition before taking BriaCells' immunotherapy treatment. Within six months of Bria Cells' treatment, the tumor disappeared, and the patient survived for 21 more months. It is considered a significant clinical benefit.

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How the BriaCells Stock Performed?

Bria Cells is a leading biotechnology company specialising in breast cancer treatment. The stock was trading at US$8.06 at 10.59 am on June 2, up 155.4% from the previous closing price. It gained 93.76% YTD. The company has a market cap of US$52 million.

The company went public in February this year. It raised US$25 million after selling 4,852,353 shares for US$4.25 per unit.

Also read: GE Healthcare in partnership with GenesisCare to deliver improved Cancer and Cardiovascular treatments

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