Stock Alert: Celyad Oncology Up 14%

(RTTNews) - Shares of Celyad Oncology SA (CYAD) are currently gaining nearly 14% on Tuesday morning. On the other day, the clinical-stage biotechnology company said its Investigational New Drug application for CYAD-211, its first non-gene edited allogeneic CAR T Therapy, received clearance from the US FDA.

CYAD is currently trading at $11.24, up $1.38 or 14.00%, on the Nasdaq.

CYAD-211 is the company's first-in-class short hairpin RNA (shRNA)-based allogeneic CAR T candidate and second non-gene edited off-the-shelf program. The company's lead allogeneic candidate from its next-generation CYAD-200 series, CYAD-211 targets B-cell maturation antigen (BCMA) for the treatment of relapsed / refractory multiple myeloma.

"The FDA's permission to begin the Phase 1 clinical trial of our lead shRNA-based allogeneic candidate CYAD-211 is a watershed moment for our organization," commented Filippo Petti, Chief Executive Officer of Celyad Oncology. "Today's announcement demonstrates our ability to advance in parallel multiple off-the-shelf product candidates based on differentiated non-gene edited allogeneic technologies into the clinic."