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Biotech stocks get a boost, or plunge, as new clinical data is shared before major cancer meeting

·3 min read
Biotech stocks get a boost, or plunge, as new clinical data is shared before major cancer meeting
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The stocks for companies developing cancer therapies were moving in morning trading on Friday as biotechs and researchers shared new clinical findings in advance of next week’s American Society of Clinical Oncology annual meeting. Arcellx Inc.’s (ACLX) stock jumped 11.9% after an abstract provided updated data for its CART-ddBCMA. SVB Securities analysts said in a note on Friday that they were pleased to see that the experimental therapy “continues to have a competitive efficacy signal in 24 evaluable relapsed/refractory patients.”