By Connor Hart
Shares of Sana Biotechnology surged after the company released what it assessed as positive data from a study of its in-development treatment for type 1 diabetes.
The stock more than tripled, up 265% to $6.02, in after-hours trading Tuesday. Shares ended the regular session 5.7% lower, at $1.65, putting them down 68% in the last 52 weeks.
The Seattle company said it transplanted its treatment, UP421, an allogeneic primary islet cell therapy engineered with its hypoimmune technology, into a patient with type 1 diabetes without the use of any immunosuppression.
Results of the study at four weeks after cell transplantation demonstrate the survival and function of pancreatic beta cells as measured by the presence of circulating C-peptide, a biomarker indicating that transplanted beta cells are producing insulin, the company said.
The study identified no safety issues, and the hypoimmune-modified islet cells evaded immune responses, according to Sana.
"We achieved our goals for the study, identifying no safety issues as well as demonstrating survival, function and evasion of immune detection of HIP-modified primary pancreatic islet cells transplanted intramuscularly with no immunosuppression," Chief Executive Steve Harr said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 07, 2025 18:00 ET (23:00 GMT)
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