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Chimeric Therapeutics (ASX: CHM) shares soar 70% on FDA IND clearance for CHM 2101

Published 31/10/2023, 11:00 pm
Chimeric Therapeutics (ASX: CHM) shares soar 70% on FDA IND clearance for CHM 2101

Highlights

  • CHM has gained the FDA approval for its IND application for CHM 2101.
  • Patient enrolment for the Phase 1A clinical trial is expected to begin in 2024.
  • The study will focus on gastrointestinal cancers.

Chimeric Therapeutics Limited (ASX: CHM) has reported another milestone, receiving approval from the US FDA for its Investigational New Drug (IND) application.

The latest development concerns CHM 2101, which is a third-generation CDH17 CAR T cell therapy targeting gastrointestinal cancers, including neuroendocrine tumours, gastric cancer and colorectal cancer.

With this development, the company can commence its Phase 1A/B clinical trial. Patient enrolment for the multi-centre, open label study is expected to start in 2024.

CHM share price jumps over 70%

CHM shares jumped 73.08% to trade at AU$0.045 apiece at the time of writing on 31 October 2023, with a market cap of AU$13.88 million.

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