The Scopus BioPharma Inc (NASDAQ:SCPS) stock is soaring this morning and has already clocked gains of 187% after the company announced that the United States Food and Drug Administration approved an investigational new drug application.
The approval has been awarded for the company’s product named CpG-STAT3siRNA, which is regarded as a distinct RNA meant for treating patients who may be suffering from cancers. The company announced that it is going to start a Phase 1 clinical trial of the product at City of Hope.
In this trial, the product is going to be trialled as a treatment for B-cell non-Hodgkin lymphoma. Scopus is involved in the biopharmaceutical space and has been in the quest to produce innovative therapies. In this regard, it is also necessary to point out that the City of Hope is one of the world’s better-known independent research and treatment establishments when it comes to cancer.
SCPS stock is now up by 186.91% to $17.10 on hefty volume after hitting a session high of $19.95.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.