Gracell Biotechnologies (GRCL) Stock: Why The Price Jumped Up Today

By Amit Chowdhry ● Mar 9, 2022
  • The stock price of Gracell Biotechnologies Inc (NASDAQ: GRCL) increased by over 13% during intraday trading today. This is why.

The stock price of Gracell Biotechnologies Inc (NASDAQ: GRCL) – a global clinical-stage biopharmaceutical company dedicated to developing highly efficacious and affordable cell therapies for the treatment of cancer – increased by over 13% during intraday trading today. Investors are responding positively to Gracell Biotechnologies announcing the details of its poster presentation at the American Association for Cancer Research (AACR) Annual Meeting 2022, being held from April 8-13 in New Orleans, Louisiana.

Gracell is going to present early clinical results of a first-in-human investigator-initiated trial (IIT) on GC502, an allogeneic CD19/CD7 dual-directed CAR-T cell therapy currently under development for multiple B-cell malignancy indications including B-cell acute lymphoblastic leukemia (B-ALL). And GC502 is currently being studied in an open-label single-arm Phase 1 IIT in China for patients with B-ALL. This product candidate utilizes the novel dual-directed CAR design of Gracell’s proprietary TruUCAR platform, which allows the CD19 CAR to target malignant cells, while the CD7 CAR is designed to suppress host-versus-graft rejection response.

The details of the presentation are as follows:.

Presentation Title: Early results of a safety and efficacy study of allogeneic TruUCAR GC502 in patients with relapsed/refractory B-cell acute lymphoblastic leukemia (r/r B-ALL)

Session Title: Phase I Clinical Trials 2

Session Date and Time: Tuesday, April 12, from 9:00 AM – 12:30 PM CT

Location: New Orleans Convention Center, Exhibit Halls D-H, Poster Section 33

Poster Board Number: 21

Permanent Abstract Number: CT196

The full text of the abstract will be published to the AACR Online Itinerary Planner at 1:00 PM ET on Friday, April 8. And the e-poster will be viewable to registered attendees on the AACR’s e-poster website from Friday, April 8, through Wednesday, July 13. 

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