Nkarta, a biopharmaceutical company based in South San Francisco, has seen a surge in its stock price following news that the U.S. Food and Drug Administration has approved its investigational new drug application for NKX019, a potential treatment for lupus nephritis.
Stock Price Soars
After the announcement, Nkarta’s shares rose by 28%, reaching $1.89 in late morning trading on Tuesday. This is a significant rebound for the stock after hitting a 52-week low of $1.28 earlier this month. However, it’s important to note that the shares have faced a 69% decline throughout the year.
Clinical Trial Details
The approved clinical trial aims to evaluate the safety and clinical activity of NKX019 in patients with refractory lupus nephritis. This multi-center, open-label, dose-escalation study will provide valuable insights into the potential benefits of the treatment.
Fighting Lupus Nephritis
Lupus nephritis, a type of systemic lupus erythematosus, affects approximately 40% of the estimated 200,000 individuals diagnosed with the disease in the United States. Alarmingly, 30% of this group will progress to end-stage kidney disease, which can be fatal if not treated with dialysis or a kidney transplant.
Nkarta’s approval for its investigational new drug application marks an important milestone in the fight against lupus nephritis. The company’s focus on engineered natural killer cell therapies shows promise in addressing this devastating condition.