Shares of Sana Biotechnology (SANA), a clinical-stage biotechnology company, skyrocketed over 236% in premarket trading on Wednesday. This massive surge comes after the company announced positive results from a clinical trial for its experimental type 1 diabetes treatment using cell transplantation.
The treatment aims to help the body produce its own insulin by transplanting cells that can regulate blood sugar levels. According to the study led at Uppsala University Hospital, the results "provide real hope that a scalable, curative treatment for patients with Type 1 diabetes, meaning normal blood glucose with no insulin injections or immunosuppression, is possible."
Analysts have reacted enthusiastically to the news, with several firms upgrading their ratings and price targets on Sana Biotechnology's stock. The breakthrough data has fueled optimism about the potential of this novel diabetes treatment approach, causing investor excitement and the dramatic premarket rally in SANA shares.
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