What's Going With Cancer-Focused Nkarta Stock Today?

Nkarta Inc NKTX received FDA clearance for its Investigational New Drug (IND) application to evaluate NKX019, its allogeneic, CD19-directed CAR NK cell therapy candidate, for lupus nephritis.

Systemic lupus erythematosus (SLE) is an autoimmune disease characterized by abnormal B cell function and autoantibody production and results in a range of clinical manifestations, including organ damage and an increased risk of death. 

Also Read: Nkarta's Updated Data From Leukemia Study Fails To Cheer Investors.

Lupus nephritis (LN) is among the most severe manifestations of SLE. Approximately 40% of the estimated 200,000 patients in the U.S. diagnosed with SLE will develop LN. 

The trial will assess the safety and clinical activity of NKX019 in patients with refractory LN. Patients will receive a three-dose cycle of NKX019 at 1 billion or 1.5 billion cells per dose on Days 0, 7 and 14 following lymphodepletion with single-agent cyclophosphamide. 

The study is designed to enroll up to 12 patients, with the first patient expected to be enrolled in the first half of 2024.

Nkarta also announced cost containment measures to extend its projected cash runway into 2026.

The decrease in forecasted spend includes reducing and re-allocating headcount combined with a stringent cap on future headcount growth, planned centralization of operations to a single location, and early success in optimizing Nkarta's manufacturing platform.

Price Action: NKTX shares are up 29.7% at $1.91 on the last check Tuesday.