Magenta Therapeutics surges on positive results in blood cancer therapy study

Dianthus Therapeutics

13/12/2022 11:42

** Shares of drug developer Magenta Therapeutics Inc
 MGTA.O  jump ~57% premarket to $1.8, among top pct gainers
across U.S. exchanges trading before the bell
    ** Co late on Monday said its drug MGTA-117 showed positive
results in 15 patients in the early-to-mid stage study 
    ** The drug is successful in depleting CD117-expressing
target cells in the blood or bone marrow prior to a patient
undergoing stem cell transplant - MGTA
    ** The drug is being studied in relapsed or refractory acute
myeloid leukemia (AML) and myelodysplastic syndrome (MDS)
patients deemed ineligible for transplant due to high numbers of
cancer blast cells present in the bone marrow and in the
bloodstream
    ** Co plans to transition to patients with
transplant-eligible AML or MDS expected in H1 2023 
    ** CD117+ target cells are a combination of cancer blast
cells in the blood and bone marrow and non-malignant stem and
progenitor cells in the bone marrow
    ** Up to Monday's close, stock had fallen ~74% YTD, vs an
~9% decline in the Nasdaq Biotechnology index  .NBI 
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))