Kintara Therapeutics Stock Is Trading Higher: What's Driving The Action?

Kintara Therapeutics Inc KTRA shares are on the move Thursday after the company secured a $2 million grant from the National Institutes Of Health (NIH).

What To Know: Kintara was awarded a $2 million Small Business Innovation Research grant from the NIH to support development of REM-001, a photodynamic therapy photosensitizer agent for the treatment of cutaneous metastatic breast cancer.

The funds will be used to restart the REM-001 program. Kintara aims to gain clinical evidence to demonstrate proof of concept for the therapy platform. 

"The support from the NIH validates the potential of our program to help patients with metastatic breast cancer who have little or no treatment options for this devastating disease. We look forward to advancing our REM-001 program with this grant," said Robert Hoffman, president and CEO of Kintara.

Kintara is a biopharmaceutical company focused on the development of new solid tumor cancer therapies.

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KTRA Price Action: Kintara shares were up 19.7% at $3.58 at the time of publication, according to Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.