Clinical stage biotech firm Nascent Biotech Inc (OTCMKTS:NBIO) is one of the companies that may come to the attention of investors this morning after the company made a key announcement yesterday.
Market Action
On Tuesday, NBIO stock fell 1.57% to $0.1191 with 12K shares, compared to its average volume of 240K shares. The stock moved within a range of $0.1191 – 0.1269 after opening trade at $0.1269.
Nascent Biotech Completes Third Cohort in Phase 1 Human Trial for Primary and Metastatic Brain Cancer
The company which is involved in the development of monoclonal antibodies for treating different forms of cancers announced that it had completed the third cohort of dosing patients in a Phase 1 trial related to brain cancer. The company noted that after it went through the data from the first three cohorts, it believes that it would have the fourth cohort and that would be the final one.
It was also announced that the enrolment of patients for dosage is going to continue. Sean Carrick, the Chief Executive Officer of the company, spoke about the development as well. He noted that everyone at the company was excited at the fact that it was going to move on to the fourth cohort.
He also stated that although the third cohort took a longer amount of time than was expected, the data received from the same proved to be quite useful. It now remains to be seen if the Nascent stock enjoys any action in the markets today or not.
Key Quote
“Having completed the first three cohorts, we are excited to move to our fourth and possibly final cohort in the Phase I trial. The third cohort took longer than expected but the data received is very useful moving forward,” noted Nascent CEO, Sean Carrick, further stating that, as the fourth cohort is underway, Nascent will also be performing PK studies to help determine if a fifth cohort is needed.
Traders Note
NBIO stock is trading above the 20-Day and 50-Day Moving averages of $0.12 and $0.11 respectively. Moreover, the stock is trading in the oversold zone with RSI stands at 51.
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