What’s going on with EVGN?
Evogene Ltd. (EVGN) stock was trading 3.87% higher after the biopharmaceutical company announced its Israeli subsidiary Biomica Ltd. provided positive pre-clinical results in its development of live biotherapeutic product consortium BMC128, for melanoma. The shares were up $0.17 per share, and trading at $4.56 per share Tuesday afternoon.
What does this mean for Evogene?
EVGN shares posted modest gains as investors reacted to the encouraging news in Biomica’s BMC128 immuno-oncology program. In the studies, four live bacterial strains are introduced to mice inflicted with melanoma.
The latest results arrive after BMC128 showed promise in treating breast cancer in the mice, thus showing it could treat multiple types of solid tumors, the company said in a statement.
“These positive pre-clinical results indicate the potential of BMC128 to become best-in-class in the treatment of solid cancer tumors, and help validate Biomica's computational-based drug design approach,” Dr. Elran Haber, CEO of Biomica, said. “We look forward to providing incremental updates as we work towards a first-in-human, proof of concept clinical trial."
EVGN has an Overall Score of 48. Find out what this means to you and get the rest of the rankings on EVGN!
Evogene Ltd is a computational biology company targeting to revolutionize product development for life-science based industries, including human health, agriculture, and industrial applications. The company established its technology, the Computational Predictive Biology (CPB) platform. The CPB platform is designed to computationally discover and develop life-science products based on microbes, small molecules and genetic elements as the core components for such products. It holds a number of subsidiaries utilizing the CPB platform, for the development of human microbiome-based therapeutics, medical cannabis, ag-biologicals, ag-chemicals, seed traits and ag-solutions for castor oil production.
