- Investors in thinly traded nano cap Kitov Pharmaceuticals Holdings (NASDAQ:KTOV +13.9%) have been on a rollercoaster the past two weeks. Shares ran up as much as 80% in the two days prior to its announcement of a public equity offering. Shares promptly sold off, dropping almost 46% on the news.
- Shares have regained the loss, up over 60% since bottoming at $1.27 on July 11. Two days ago, it announced that subsidiary TyrNovo's lead candidate NT-219, combined with Merck's Keytruda (pembrolizumab), converted non-responding tumors into responders and blocked tumor progression in a preclinical model. No responses were observed with Keytruda alone or with NT-219 alone. The company intends to advance the candidate into clinical studies as soon as possible.
- Previously: Kitov prices direct equity offering; shares down 34% (July 11)