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Molecular Templates up 21% on heavy volume

Published 12/20/2017, 01:12 PM
© Reuters.  Molecular Templates up 21% on heavy volume
MTEM
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  • Micro cap Molecular Templates (MTEM +20.7%) breaks through near-term resistance on a 5x surge in volume on no particular news.
  • Frequently this type of action presages an equity offering, but the company had ~$68M in cash at the end of Q3 while operations consumed $6.4M over the first three quarters so it is not facing funding pressure.
  • Lead candidate MT-3724 is being evaluated in an early-stage expansion study in diffuse large B-cell lymphoma. Topline data should be available in H1 2018. A Phase 2 trial should commence next year as well.
  • Previously: Early-stage study underway for Molecular Templates' blood cancer candidate MT-3724; shares up 2% (Oct. 24)
  • Now read: Novavax: Punts On NanoFlu, Accelerates RSV


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