Strong Premarket Action Following U.S. Patent Grant

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, February 7, 2023

A New York-based biotech company is already making major waves on Tuesday after the company announced that it was granted U.S. Patent #11572408: treatment of cancer with a Semaphorin-4D antibody in combination with an epigenetic modulating agent.

While the announcement was very technical in nature, it seems like traders couldn’t get their hands on shares of Vaccinex Inc. (Nasdaq:VCNX) fast enough as shares are currently bid up at $0.8817/share (+49.44% implied open for sellers) at the time of writing. It should certainly be an exciting session to watch this micro cap following the opening bell!

Vaccinex Inc is pioneering a differentiated approach to treating cancer and slowly progressive neurodegenerative diseases through the inhibition of semaphorin 4D (SEMA4D). The company's lead drug candidate, pepinemab, blocks SEMA4D, a potent biological effector that it believes prevents immune infiltration into tumors and triggers inflammation in chronic diseases of the brain. Pepinemab is being evaluated in a Phase 1b/2 study in recurrent or metastatic head and neck cancer and in a Phase 1/2a study in Alzheimer's Disease, with ongoing exploration of potential Phase 3 development in Huntington's disease. The firm has also developed a proprietary drug discovery platform, ActivMAb. The firm generates revenue from collaborative research, license, development and commercialization agreements.

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