NK Stock Price Increases Over 15% Pre-Market: Why It Happened

By Amit Chowdhry ● Mar 9, 2021
  • The stock price of Nantkwest Inc (NASDAQ: NK) increased by over 15% pre-market. This is why it happened.

The stock price of Nantkwest Inc (NASDAQ: NK) – a clinical-stage, natural killer cell-based therapeutics company – increased by over 15% pre-market. Investors appear to be responding to the company announcing that its stockholders approved by the required vote each of the proposals related to the pending merger of NantKwest and ImmunityBio presented at the special meeting of stockholders held earlier in the day – including approval of the merger by a majority of unaffiliated stockholders of NantKwest. 

The final voting results for NantKwest’s special meeting of stockholders will be disclosed in a Form 8-K to be filed by NantKwest with the Securities and Exchange Commission.

ImmunityBio And NantKwest Now Dosing Participants In Global Trials For Novel COVID-19 Vaccine

Earlier this week, ImmunityBio and NantKwest had announced the first cohorts of their South Africa and U.S. COVID-19 vaccine trials have received their initial doses of the company’s T-cell-based COVID-19 vaccine candidate hAd5. And this candidate is unique in targeting both the spike (S) and nucleocapsid (N) proteins of the SARS-CoV-2 virus. These trials will determine which route combination provides the strongest immune response and long-term immunity as well as the vaccine candidate’s effectiveness against the growing number of mutated variants of the virus.

In the 3 trials, the hAd5 vaccine candidate is being administered in a subcutaneous, oral, or sublingual formulation. And the Phase I trial in Cape Town, South Africa is using subcutaneous administration and nine participants have been dosed to date. Plus it is expected to be followed by sublingual delivery and room temperature-stable oral capsule trials. And the 2 U.S. Phase Ib trials are studying a combination of subcutaneous/sublingual and subcutaneous/oral formulations; six participants have been dosed in each trial to date. In total, 140 participants will be enrolled in the South African and U.S. trials.

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