Market Overview

Heat Biologics Cools Off, Bluebird Bio Heats Up

Share:
Heat Biologics Cools Off, Bluebird Bio Heats Up
Related BLUE
15 Biggest Mid-Day Losers For Monday
BlueBird Bio Wounded After Roth Downgrade
Bluebird Bio: Set To Fly Even Higher? (Seeking Alpha)
Related CELG
Celgene Higher Off Positive Phase II Sunbeam Trial Of Oral Ozanimod
Couldn't Make It To Leerink's Global Healthcare Conference? Here Are The Highlights From Day One
Stocks Quietly Mixed In Afternoon; Skyworks Breaks Out, Celgene Bases (Investor's Business Daily)

In a classic example of how trial results can impact stock prices, shares of Heat Biologics Inc (NASDAQ: HTBX) plunged 58 percent in the Thursday’s pre-market hours following a negative outcome of its bladder cancer study, while bluebird bio Inc (NASDAQ: BLUE)’s impressive early cancer studies propelled the stock by 22 percent.

The Trials

Heat Biologics said its phase 2 trial of Vesigenurtacel-L (HS-410) in combination with BCG in patients with non-muscle invasive bladder cancer (NMIBC) failed to meet primary endpoint. The primary endpoint was proportion of recurrence-free survival at one year between the vaccine and placebo arms of the trial.

the other hand, bluebird bio said early data from its ongoing Phase 1 study of bb2121 showed objective anti-tumor responses in heavily pre-treated multiple myeloma patients. bluebird bio is developing bb2121 in collaboration with Celgene Corporation (NASDAQ: CELG).

Recent Stock Performance

Shares of Durham, North Carolina-based Heat Biologics closed Wednesday’s trading at $2.87, while bluebird bio ended trading at $60.35.

In the pre-market hours Thursday, Heat Biologics sank 58 percent to $1.20, while Cambridge, Massachusetts-based bluebird bio surged 22.54 percent to $73.95. Shares of Celegene too gained 1.6 percent to $120.45 on the news.

Posted-In: bb2121Biotech News Health Care FDA Movers Trading Ideas General Best of Benzinga

 

Related Articles (CELG + BLUE)

View Comments and Join the Discussion!