TC BioPharm Shares Rise 63% After Letter Intent to Buy Cancer Therapy Assets

Dow Jones04-05

By Chris Wack

TC BioPharm shares rose after the company said it executed a non-binding letter of intent to buy NK, or natural killer, platform technology to treat both solid tumors and other indications.

Shares were up 63% to $2.12 in recent trading. The stock hit its 52-week low of 85 cents on Feb. 5, and is down 94% in the past 12 months.

The clinical stage biotechnology company said the target asset acquisition covers the proprietary manufacturing process of two allogeneic CAR-NK therapeutics, both of which TC BioPharm believes are valuable as monotherapies as well as in conjunction with TCB-008 in the future.

Under the terms of the letter of intent, TC BioPharm has been granted exclusivity while the parties work in good faith on drafting a definitive agreement.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

April 04, 2024 13:12 ET (17:12 GMT)

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