Generex up 26% on possible NuGenerex spinout

|About: Generex Biotechnology ... (GNBT)|By:, SA News Editor

Thinly traded nano cap Generex Biotechnology (OTCQB:GNBT +25.9%) is up on almost double normal volume, albeit turnover of only 250K shares, following its update on developments at subsidiary NuGenerex Immuno-Oncology (formerly Antigen Express).

A combination trial evaluating Merck's (MRK +2.9%) Keytruda (pembrolizumab) and peptide vaccine AE37 in metastatic triple-negative breast cancer is advancing. Site selection is underway, study drugs are being packaged and the Institutional Review Board is reviewing the protocol.

Generex has initiated partnering discussions for co-development and collaborative R&D opportunities in I-O and immunotherapies.

It is also mulling a spinout of NuGenerex Immuno-Oncology after which it will operate independently with its own stock listing. Specifically, the spinout will be executed by issuing one or more dividends of NuGenerex stock to GNBT shareholders. GNBT expects to retain a controlling interest.

Subscribe for full text news in your inbox