In last trading session, the stock price of MABVAX THERAPEUTICS Holdings, Inc. (OTCMKTS:MBVX) plunged more than 3% to close the day at $0.800. The decline came at a share volume of 401,780 compared to average share volume of 136,079. After the recent decline, the market capitalization of MabVax stands at $24.25 million. The range for the day was $0.76 to $0.85.
MabVax Therapeutics reported that its fully human antibody plans for cancer therapeutics and imaging are set to be featured in 3 poster presentations at the AACR Annual Meeting. David Hansen, the CEO of MabVax, said that they are an innovator in utilizing fully human antibodies to isolate and fight cancer antigens that have been difficult to target.
It is highly rewarding that the novel approach is being recognized in numerous presentations at the AACR Annual Meeting. They are in a Phase I study with the lead candidate ‘MVT-5873’ as immunotherapy for individuals suffering with metastatic pancreatic cancer. The company is also set to commence a second Phase I study in May, which will assess ‘MVT-2163’ as a next-gen PET imaging agent for the detection and treatment of pancreatic cancer. Hansen added that they look forward to reporting preliminary results from both studies during the third quarter of 2016.
Phase I trial of MVT-5873, a monoclonal antibody aiming sLea, in individuals with advanced pancreatic cancer, was being presented by Paul Maffuid, Ph.D., the Executive VP of R&D for MabVax. It gives an overview of the advancement and rationale for assessing HuMab-5B1 antibody in individuals with the ‘CA19-9’ tumor biomarker. It is expressed in nearly 90% of pancreatic cancers.
The poster highlights MabVax’s Phase 1 development platform for assessing HuMab-5B1, which covers the ongoing study as a therapeutic antibody in individuals suffering with pancreatic cancer, and as a radioimmunotherapy aiming pancreatic and other ‘CA19-9’ tumors.