Shares of Heat Biologics Inc. HTBX, +59.86% more than doubled in very active trading Tuesday, after the biopharmaceutical company focused on modulating the immune system reported “positive” interim data from a Phase 2 trial of its lung cancer treatment. The stock soared 115% toward a seven-month high ahead of the open on volume of 15.1 million shares, which compares with the full-day average of 1.4 million shares over the past 30 days. The company said a trial of its HS-110, in combination with Britol-Myers Squibb Co.’s OPDIVO in advanced non-small cell lung cancer (NSCLC). showed “substantial” survival benefit, with a median progression free survival of 1.8 months and a median overall survival of 24.6 months. “Our data suggests that addition of HS-110 to a checkpoint inhibitor has the potential to improve survival benefit for checkpoint inhibitor naïve NSCLC patients,” the company said. The stock has rallied 16.1% over the past three months through Monday, while the iShares Nasdaq Biotechnology ETF IBB, -0.30% has advanced 25.4% and the S&P 500 SPX, -0.07% has gained 10.3%.
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