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Kitov clawing back from equity offering-related down move; shares up over 60% since last week

Jul. 21, 2017 10:32 AM ETPurple Biotech Ltd. (PPBT) StockBy: Douglas W. House, SA News Editor9 Comments
  • 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)

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