Codiak BioSciences (CDAK) Stock: Why The Price Grew 10.14% Today

By Amit Chowdhry ● May 2, 2022
  • The stock price of Codiak BioSciences Inc (NASDAQ: CDAK) increased by 10.14% today. This is why.

The stock price of Codiak BioSciences Inc (NASDAQ: CDAK) increased by 10.14% today. Investors are responding positively to Codiak BioSciences announcing the appointment of David Mauro, M.D., Ph.D., a veteran oncology and immunotherapy drug developer, as Chief Medical Officer. 

Dr. Mauro will provide leadership and expertise for Codiak’s pipeline of clinical development programs through early-stage trials to global regulatory submissions and joins the company’s Executive Leadership Team reporting to Douglas E. Williams, Ph.D., President and CEO.

Dr. Mauro brings over 20 years of oncology drug development experience to Codiak, including directing translational, early- and late-stage development for more than 25 Investigational New Drug candidates in the past decade. And most recently, he served as chief medical officer of Prelude Therapeutics, a clinical-stage biopharmaceutical company developing targeted small molecule therapeutics for cancer. There Dr. Mauro oversaw all aspects of clinical development of five candidates, including clinical operations, clinical pharmacology, translational, statistics and regulatory affairs. Prior positions include chief medical officer roles at two oncology immunotherapy companies: Advaxis Immunotherapies and Checkmate Pharmaceuticals, where he spent four years contributing to the development of the company’s virus-like particle (VLP) platform for immunotherapy, which contributed to the company’s recent acquisition by Regeneron Pharmaceuticals. And earlier in his career, Dr. Mauro held positions of increasing responsibility within the clinical and medical affairs teams at Merck, Bristol Myers Squibb and Becton Dickinson. 

KEY QUOTES:

“We have been fortunate to work with David since late last year in an advisory capacity and are delighted to welcome him as Codiak’s Chief Medical Officer, particularly now that we are on the cusp of bringing our third candidate into the clinic and approaching key inflection points in our two ongoing clinical trials. David’s vast experience bringing biologic and small molecule candidates through all stages of development to regulatory submission will be tremendously valuable to our clinical organization as we design the next-stage and future registration-enabling trials to advance exosome-based therapies as a promising new therapeutic modality.”

– Douglas E. Williams, Ph.D., President and CEO

“I believe that the field of immunotherapy has never been more exciting or promising in terms of the potential to create truly innovative means of treating intractable forms of cancer and other diseases. Codiak is at the forefront of this with a modality and engineering platform that has conceivably broad applications and the initial clinical data support the foundational hypothesis that, by virtue of the inherent characteristics of exosomes, they are capable of serving as the basis of a new class of potentially transformative medicines.”

– David Mauro, M.D., Ph.D., a veteran oncology and immunotherapy drug developer, as Chief Medical Officer

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