Kintara Therapeutics Shares Up 19% After NIH Grant
By Dean Seal
Shares of Kintara Therapeutics are trading higher Thursday after the company said it was awarded a $2 million grant from the National Institutes of Health.
The stock was up 19% at $3.57 in premarket trading. When the market closed Wednesday, shares had fallen 56% since the start of the year.
The biopharmaceutical company said the grant from the U.S. agency's Small Business Innovation Research program will support the clinical development of REM-001, a photodynamic therapy photosensitizer agent for the treatment of cutaneous metastatic breast cancer.
The funds will help Kintara restart REM-001's cutaneous metastatic breast cancer program and generate clinical evidence to demonstrate a proof-of-concept for a photodynamic therapy platform in breast cancer.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 29, 2023 08:05 ET (12:05 GMT)
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