What's Going On With Ocean Biomedical Stock Today?

Ocean Biomedical OCEA shares are trading higher on Thursday. The stock appears to be gaining after co-founder Jack Elias presented details from previously published discoveries that have potential application for tumor suppression at a cancer center meeting.

Elias recently presented details of his previously published discoveries at the Legorreta Cancer Center, highlighting work on understanding the development and progression of lung cancer. The company noted that the discoveries have potential across multiple cancer pathways.

The Ocean Biomedical co-founder also shared details of his novel therapeutic discoveries that show the efficacy of monospecific and bispecific antibodies against CHI3L1 and PD-1 as therapies for non-small cell lung cancer and glioblastoma multiforme. 

Ocean Biomedical said it's currently working to move these antibody therapeutic discoveries towards Phase 1 clinical trials.

"We are excited to see the reactions to Dr. Elias's discoveries that CHI3L1 is a critical regulator of T-cell activity. These therapies have the potential to save lives of people affected not just by lung metastasis, and melanoma, but also non-small cell lung cancer, glioblastoma and other forms of cancer," said Chirinjeev Kathuria, co-founder and executive chairman of Ocean Biomedical.

Ocean Biomedical shares were halted for volatility in early trading. The stock has an average session volume below 3 million. Thursday's trading volume has already exceeded 42 million at the time of writing, according to Benzinga Pro.

Ocean Biomedical is a low-float stock with only 19.1 million shares outstanding. The stock appears to be seeing increased retail interest following Thursday's press release.

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OCEA Price Action: Ocean Biomedical has a 52-week high of $26.60 and a 52-week low of $3.06.

Ocean Biomedical shares are up 75.8% at $8.25 at the time of writing, according to Benzinga Pro.

Photo: __Penelope_ from Pixabay.