Benitec Biopharma Inc. (NASDAQ: BNTC) stock showed a decline of 3.04% in the last trading close whereas the BNTC stock surged high by 31.66% during the after-hours trading session. There is no recent news available for this change in BNTC stock price. Benitec Biopharma Ltd. was founded in 1997, it is an Australian biotechnology company that deals with the development of gene-silencing therapies in order to treat complex and life risking diseases through the use of DNA-directed RNA interference technology.
Recent Past Development
On February 24, BNTC announced that their gene therapy introduced to treat rare muscle diseases has shown satisfactory results in Animal Studies. BB-301 is the drug developed by Benitec Biopharma which was directly injected into the pharyngeal muscles. The medicine works for the treatment of Oculopharyngeal Muscular Dystrophy (OPMD) by causing “silence and replace” approach after being injected in the body. The three distinct genes that make up the BB-301 gene build have long-lasting, broad-based, dose-dependent expression in pharyngeal muscle cells (i.e., siRNA13, siRNA17, and codon optimized PABPN1).
Benitec Biopharma has displayed a 248-fold improvement and 111-fold improvement through an optimized route and method of administration in BB-301 transduction of the two main pharyngeal muscles compared to the amounts of BB-301 transduction found in the analogous Beagle dog research performed by the previous BB-301 license.
Furthermore, BNTC has arranged a Scientific Advice Meeting in May to assess the interim data and also the phase 1 clinical trial design. In 2H2021, the company will have additional pipeline updates. In 2022, clinical trials of BB-301 in OPMD patients are expected to begin. This positive recent development could might be the reason behind change in BNTC stock since for now, no other news has been provided by the company.