EXCLUSIVE: Ocean Biomedical's JV Partner Virion Therapeutics Dosed First Patients In Novel Immunotherapy Study For Chronic Hepatitis B
Portfolio Pulse from Akanksha Bakshi
Ocean Biomedical, Inc. (NASDAQ:OCEA) announced that its JV partner, Virion Therapeutics, has begun dosing its first patient in a Phase 1b clinical trial for its VRON-0200 immunotherapy, a potential cure for chronic Hepatitis B virus (HBV) infection. The trial is currently enrolling participants in Hong Kong and New Zealand, with plans to expand to the US. Initial clinical data from the study are expected in early 2024. OCEA shares are trading lower by 2.89% at $1.68 premarket on the last check Thursday.
October 26, 2023 | 8:30 am
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NEGATIVE IMPACT
Ocean Biomedical's JV partner has begun dosing in a Phase 1b trial for a potential HBV cure. The company's shares are trading lower by 2.89% premarket.
The news of the commencement of the Phase 1b trial is a significant development for Ocean Biomedical. However, the market reaction has been negative in the short term, with the company's shares trading lower premarket. This could be due to the inherent risks associated with clinical trials and the long timeline until initial data is expected in 2024.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100