HCW Biologics Develops Pembrolizumab-Based Immunotherapy for Pancreatic, Ovarian Cancer; Shares Surge Nearly 50%

HCW Biologics announced the development of a novel second-generation immune checkpoint inhibitor based on pembrolizumab, targeting solid tumors such as pancreatic and ovarian cancer. This proprietary TRBC product discovery positions the company to potentially enter a multi-billion dollar market. Following this announcement, HCW Biologics shares surged by nearly 50% in pre-market trading. Meanwhile, Merck has initiated the HERTHENA-Breast04 Phase 3 trial of patritumab deruxtecan for patients with metastatic hormone receptor-positive, HER2-negative breast cancer who were previously treated with endocrine therapy. Azitra, Inc. reported dosing the first patient in its Phase 1/2 trial for the ATR-04 program, which targets oncology patients with EGFR inhibitor-associated rash, leading to a 76.3% increase in its pre-market stock price. Additionally, IGC Pharma received a coverage report from Ascendiant Capital Markets, which raised its price target to $4.50, citing expectations of positive clinical data and progress in 2025 as strong catalysts. IonQ was also noted for its anticipated third consecutive year of 100% year-over-year revenue growth, supported by a new product launch in 2025.