Cero Therapeutics nasdaq Cero Stock Slumps After Gene Therapy Summit Presentation

CERo Therapeutics (NASDAQ: CERO) Stock Slumps After Gene Therapy Summit Presentation

CERo Therapeutics (NASDAQ: CERO) stock plummeted during intraday trading Monday after the company presented promising data on CER-1236 for AML treatment at the Cell & Gene Therapy Summit.

CERo Therapeutics recently announced the presentation of a poster highlighting significant findings on its lead compound, CER-1236, at the ongoing Global Cell & Gene Therapy Summit 2024 in Boston. The poster, titled “Aberrant Expression of TIM-4-L is a Common Feature of AML and Potential Target for Engineered T Cell Therapy,” underscores the compound’s potential in treating acute myeloid leukemia (AML).

Key Findings from the Presentation

According to the presented data, TIM-4-L, identified as prevalent across multiple AML subsets but absent in healthy tissue, emerges as a promising target for therapeutic intervention. CER-1236, the company’s lead compound, demonstrated potent cytotoxicity against TP53 mutant AML in both in vitro and in vivo studies, showcasing its potential efficacy in combating this challenging disease.

Moreover, a comprehensive toxicity study affirmed the safety profile of CER-1236. T cells engineered with CER-1236 were found to engraft in lymphoid tissues without eliciting adverse effects in terms of clinical pathology or histopathological evaluations, even at high doses. This favorable safety profile underscores CER-1236’s potential as a targeted therapy for AML, minimizing risks to healthy tissues.

CERo Chairman and CEO Brian G. Atwood commented,

“This poster is a validation of our recent announcement regarding the completion of toxicity evaluations for CER-1236.  The prevalence of TIM-4-L in AML as compared to healthy tissue is important, as it makes it a viable target that may have an impact on the disease. CER-1236 action in AML compared to in healthy tissue also shows promise for the compound. Cell & Gene Therapy is an important conference, and the acknowledgment of these data will be instrumental in further discussion with the scientific community in explaining the potential we see for our compound.”

Atwood also noted the strategic advancements towards clinical trials, stating, 

“In the meantime, with all IND-enabling work complete, we are in close communication with the U.S. Food and Drug Administration as we prepare for the possibility of entering the clinic with CER-1236 for AML in the short term.”

CERo Therapeutics (NASDAQ: CERO) Stock Price Action

CERO stock plunged 18.45% on Monday, closing at $0.2072, marking a 30.70% decrease for the week. The trading volume was 47,464,930 shares, significantly higher than the average daily volume of 1.80 million.