Stock Alert: NantKwest Rises 8% On FDA Nod For Covid Vaccine Trial

(RTTNews) - Shares of NantKwest, Inc. (NK) are rising more than 8% Thursday morning after the company said FDA has authorized ImmunityBio to start the phase I trial of its Covid-19 vaccine candidate, hAd5, which both the companies have been jointly developing.

This is the first human adenovirus (hAd5) vector vaccine candidate to deliver both outer spike(S) and inner nucleocapsid (N) antigens from SARS-CoV-2, offering potential long-term T cell and antibody immunity to the SARS-CoV-2 virus.

ImmunityBio plans to start a Phase I trial at Irvine, Calif. based Hoag Hospital this month in adults up to age 55.

In May this year, NantKwest and ImmunityBio had signed the agreement for the joint development, manufacture and marketing of vaccines and therapeutics for Covid-19.

NK stock is currently trading at $9.81. It has traded in the range of $1.05- $15.70 in the last one year.