Adagene (ADAG) Stock: Why The Price Increased Today

By Amit Chowdhry ● Nov 30, 2021
  • The stock price of Adagene Inc (NASDAQ: ADAG) increased by over 15% pre-market today. This is why it happened.

The stock price of Adagene Inc (NASDAQ: ADAG) – a platform-driven clinical-stage biopharmaceutical company committed to transforming the discovery and development of novel antibody-based immunotherapies – increased by over 15% pre-market today. Investors are responding positively to Adagene announcing that the U.S. Food and Drug Administration (FDA) has cleared the Investigational New Drug (IND) application to proceed with a Phase 1b/2 clinical trial of its anti-CTLA-4 monoclonal antibody (mAb) ADG116 in combination with the anti-PD-1 antibody pembrolizumab. And the global trial (ADG116-P001 / KEYNOTE-C97) will evaluate patients with advanced/metastatic solid tumors at multiple sites in the U.S. and Asia Pacific (APAC).

ADG116 utilizes Adagene’s proprietary NEObody platform technology and is designed to target a unique conserved epitope of CTLA-4 with enhanced efficacy by potent Treg depletion in the tumor microenvironment (TME). And ADG116 is designed with a soft ligand blocking to address safety concerns associated with existing CTLA-4 therapeutics.

The ADG116-P001 trial is expected to dose the first patient in early 2022 and it is designed to evaluate the safety and tolerability, determine the maximum tolerated dose, and assess preliminary efficacy of the combination of ADG116 and pembrolizumab.

Plus the ongoing ADG116-1003 trial is on track to expand with two combination cohorts investigating safety and preliminary efficacy of ADG116 with either toripalimab or ADG106 in patients with advanced/metastatic solid tumors.

KEY QUOTE:

“The FDA clearance of this trial represents a significant milestone for our anti-CTLA-4 program as we advance our evaluation of ADG116 in combination with anti-PD-1 therapy. By applying NEObody technology, ADG116 can overcome existing safety limitations of anti-CTLA-4 therapies to achieve improved clinical benefit. Our exploration of ADG116 with pembrolizumab aims to unleash the dual CTLA-4/PD-1 blockade and realize the full potential of this combination therapy approach as a cornerstone of cancer treatment – balancing safety and efficacy.”

— Peter Luo, Ph.D., Co-founder, Chief Executive Officer and Chairman of Adagene

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.