IN8bio Shares Are Pulling Back Tuesday: What's Going On?

IN8bio Inc INAB shares are trading lower Tuesday on what appears to be profit taking after the stock rallied 185% on Monday. 

What Happened: IN8bio shares soared on Monday after the company announced new data from the Phase 1 trial of INB-100 showing that patients who received INB-100 treatment exhibited more than 80 times greater gamma-delta T cell expansion.

The stock closed Monday up 185.7% so it's possible Tuesday's pullback is a result of profit taking.

What Else: The company also said it received orphan drug designation from the FDA for two drugs covering a broad range of malignant glioma treatments, including newly diagnosed GBM, a highly aggressive brain cancer.

"Our goal is to achieve our Mission of Cancer Zero by eradicating cancer cells and improving patient outcomes," said William Ho, co-founder and CEO of IN8bio.

"Our novel approach combines engineered, chemo-resistant gamma-delta T cells with standard-of-care treatments to amplify immune signals, maximize tumor killing, and eliminate more cancer cells."

IN8bio said it plans to enroll INB-400 in a Phase 2 trial later this year. The company expects to provide further clinical updates on its pipeline at medical meetings throughout 2023.

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INAB Price Action: IN8bio shares were down 8.33% at $2.75 at the time of writing, according to Benzinga Pro.

Photo: OsloMetX from Pixabay.