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Mustang Bio (NASDAQ:MBIO) stock was up 9% in late morning trading Thursday after the company said it was planning to expand testing of its oncology drug candidate MB-106 into autoimmune diseases.
The biotech company said it is collaborating with Fred Hutchinson Cancer Center on a proof-of-concept, investigator-sponsored Phase 1 study of MB-106 for autoimmune disorders. Mustang expects the study to be initiated in Q4.
A CD20-targeted CAR-T cell therapy, MB-106 is currently in Phase 1/2 clinical trials for relapsed or refractory B-cell non-Hodgkin lymphomas, or NHL, and chronic lymphocytic leukemia. The company also intends to enroll its first patient in the second half of the year for a registrational study of the therapy in the treatment of Waldenstrom macroglobulinemia, a rare type of B-cell NHL.
Mustang noted that scientists from Fred Hutchinson were involved in discoveries related to the product and may benefit financially from them in the future.
Mustang was founded by Fortress Biotech (FBIO).