Shares of Precision BioSciences Inc. are up 13% in premarket trading after it announced positive results from a small Phase 1 clinical trial for its chimeric antigen receptor (CAR) T cell therapy. Precision, which is developing the drug with a not-for-profit French pharmaceutical company Servier, tested the experimental therapy in patients with Non-Hodgkin lymphoma and B-cell acute lymphoblastic leukemia. "These first-in-human data for PBCAR0191 suggest a tolerable safety profile and encouraging early evidence of clinical activity," Dr. Bijal Shah, an oncologist at the Moffitt Cancer Center in Tampa, Fla., and the trial s clinical investigator, said in a news release. Precision went public earlier this year; its stock is up 144% for the last three months. The S&P 500 has gained 5% during the same period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.