Why Magenta Therapeutics (MGTA) Shares Are Surging Today

Magenta Therapeutics Inc MGTA highlighted updated data from the ongoing MGTA-117 Phase 1/2 dose-escalation trial at the American Society of Hematology 2022 Annual (ASH) Meeting.
MGTA-117 bound to CD117-expressing target cells within 15 minutes after dosing in all participants as measured by a receptor occupancy (RO) assay. RO increased with higher dose levels of MGTA-117.
MGTA-117 showed greater depletion of target cancer blast cells in the blood of participants in Cohorts 2 and 3 compared to Cohort 1.
Related: Magenta Therapeutics Reveals Encouraging Interim Data From Lowest Dose Of MGTA-117 In Leukemia Trial.
In addition, three out of the four participants in Cohort 3 for whom paired bone marrow samples were collected at baseline and post-dosing had depletion of cancer blast cells in both blood and bone marrow.
Participants entering the trial were considered ineligible for stem cell transplants.
One relapsed/refractory myelodysplastic syndrome participant in Cohort 3 had a reduction of bone marrow cancer blast cells to a level that enabled the participant to become eligible for a transplant.
MGTA-117 was well-tolerated in all participants. No serious adverse events were deemed related to MGTA-117, and no dose-limiting toxicities were observed.
The company also said that the MGTA-145 trial in collaboration with bluebird bio Inc BLUE for stem cell mobilization in sickle cell disease patients is progressing, with data now expected to be shared in 1H 2023. Initial data was expected to be shared in December 2022, with more comprehensive data in H1 2023.
Price Action: MGTA shares are up 48.7% at $1.71 during the premarket session on the last check Tuesday.

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Magenta Therapeutics Shares Surge After Encouraging Data From Blood Cancer Candidate At ASH Meeting

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