Shares of Werewolf Therapeutics soared after the company released Phase 1 trial data that confirmed the effectiveness of its leading clinical program. The stock jumped by 24% during premarket trading, reaching $2.66. Impressively, the shares had already experienced a 5% increase year-to-date prior to the market closing on Thursday.
This biopharmaceutical company revealed on Friday that the data from its program evaluating WTX-124 in patients with advanced or metastatic solid tumors not only demonstrated proof of mechanism for WTX-124 but also served as confirmation of concept for the design of Werewolf’s treatment molecule, Indukine, which targets interleukin 2 (IL-2).
“We are thrilled by these preliminary findings which indicate that WTX-124 was well received by patients, delivering IL-2 effectively to the tumor microenvironment and displaying promising biological and clinical activity as a monotherapy treatment. Two patients in the 12 mg cohort showed ongoing partial responses, further bolstering our confidence,” stated Chief Executive Daniel Hicklin.
In conclusion, the remarkable trial results have undoubtedly strengthened the prospects for Werewolf Therapeutics and its groundbreaking clinical program.