Nkarta's Stock Climbs 28% After FDA Approves Drug Application
17 Ottobre 2023 - 6:00PM
Dow Jones News
By Adam L. Cataldo
Nkarta's shares rallied after the company said its
investigational new drug application for NKX019, a treatment for
lupus nephritis, was approved by the U.S. Food and Drug
Administration.
The stock climbed 28% to $1.89 in late morning trading Tuesday.
The stock hit a 52-week low of $1.28 earlier this month, and the
shares are down 69% this year.
The company said its multi-center, open label, dose escalation
clinical trial will assess the safety and clinical activity of
NKX019 in patients with refractory lupus nephritis.
Nkarta, a biopharmaceutical company based in South San
Francisco, Calif., said it is a developer of engineered natural
killer cell therapies.
Lupus nephritis is a form of systemic lupus erythematosus, and
is developed by about 40% of the estimated 200,000 people in the
U.S. diagnosed with the disease. Of that group, 30% will develop
end stage kidney disease, which can be fatal unless they receive
dialysis or a kidney transplant.
Write to Adam Cataldo at adam.cataldo@wsj.com.
(END) Dow Jones Newswires
October 17, 2023 11:45 ET (15:45 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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