What's Going On With Fibro-Inflammatory Disease Focused Chemomab Therapeutics On Tuesday?
Portfolio Pulse from Vandana Singh
Chemomab Therapeutics Ltd (NASDAQ:CMMB) experienced a significant trading volume increase following the announcement of new patents granted in Brazil and Israel for CM-101, a monoclonal antibody targeting fibrosis and inflammation. The patents, which extend protection until 2038, cover the composition of CM-101 and its use in various diseases, including primary sclerosing cholangitis (PSC). CM-101 is in a Phase 2 trial, with results expected by mid-2024. Despite the positive news, CMMB shares dropped 3.33% to $0.61.
February 20, 2024 | 5:30 pm
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Chemomab Therapeutics announced new patents for CM-101 in Brazil and Israel, extending protection till 2038. Despite the news, shares fell 3.33% to $0.61.
The announcement of new patents for CM-101 in Brazil and Israel should be positive news, indicating progress and extended protection for Chemomab's key asset. However, the immediate market reaction was negative, with a 3.33% drop in share price. This could be due to market volatility, investor expectations, or other external factors not mentioned in the article.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100