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Tag: KRBP Stock

  • Shares of Kiromic Biopharma Inc. (KRBP) stock Surges After Hours. Any Reasons?

    On March 02, Kiromic Biopharma Inc. (KRBP) stock surged in the after-hours to trade at a value of $1.0600 per share. The company has not posted any new announcement or SEC filing to cause the bullish trend in the stock.

    The stock remained in the green during the regular session with a mild gain of 0.67%. While there is no official reason, KRBP stock saw a volume of a huge 1,175% of its average during the session. The stock closed the regular trading session at $0.7852 whereas 1.61 million shares exchanged hands. Following the close of regular trading, the stock’s bullish momentum rose in the after hours. Thus, the stock added a huge 35.00% at an after-hours volume of 1.5 million on Wednesday.

    The biotechnology company, Kiromic Biopharma Inc. has a market capitalization of $12.04 million. The company has 15.44 million shares outstanding in the market currently.

    KRBP stock Movement Analysis

    As the market crashed down last week on the escalated Russia-Ukraine conflict, KRBP stock also suffered a downfall. The stock plunged down to its 52-week low of $0.57 on February 24, 2022. Since then, the stock has been on a bullish path, gaining and advancing at a slow pace. As there is no official new or SEC filing to justify the bullish momentum, it seems investors are taking advantage of the stock’s low price. Moreover, external factors like social media discussions and stock sentiment could be at play here as well.

    Source: Medium

    Changes in Management and Board

    On February 03, the company announced certain changes in its management and board. These changes included the following:

    Dr. Maurizio Chiriva, the company’s previous CEO and Chairman of the board resigned from his roles, effective January 27, 2022. As a result, Pietro Bersani, KRBP’s former Chair of Audit Committee was appointed on the same day as Interim CEO to succeed Mr. Chiriva.

    Furthermore, Michael Nagel (company director) was appointed as the new Chairman of the board of directors, effective January 27, 2022.

    In addition, the company also announced the formation of a Disclosure Committee for strengthening its disclosure requirements protocol, process, and procedure. The committee consists of the company’s senior leadership.

    Nasdaq Notice to KRBP

    On November 24, the company announced receiving a written notice from Nasdaq dated November 18, 2021. As per the notice, the company is not in compliance with Nasdaq’s listing Rule 5250©(1). The company failed to file it Quarterly Report on Form 10-Q for the third quarter of 2021 on time.

  • Kiromic (KRBP) Stock Rose 34% In Extended Trades. How Did That Happen?

    Shares of the pioneer in immuno oncology cellular therapy in solid tumors, Kiromic BioPharma Inc. (KRBP) traded higher after hours on Monday, rising 33.65% to $4.17. Kiromic stock finished at $3.12 after losing -2.50% during regular trading. KRBP stock traded 45374 shares, which is below the average daily trading volume of 210K shares over the last 50 days.

    In the past five days, KRBP stock gained 6.85% but lost -69.83% in the last month. In the last three months, KRBP stock has fallen -62.63%, and this year has seen -63.19% losses. As a result of an acquisition, KRBP stock skyrocketed in extended trades.

    What has KRBP Stock acquired?

    Kiromic is an emerging biopharmaceutical company focused on developing cell-based therapies for solid tumors using artificial intelligence (AI)-based platforms that unleash the immune system’s power to fight cancer. A key element of KRBP’s pipeline development is the Diamond engine, an artificial intelligence platform that accelerates target discovery. DIAMOND from KRBP stock combines big data science with target identification, allowing the development of new drugs to be completed in a fraction of the time and cost of the previous process.

    It was announced yesterday that the acquisition of InSilico Solutions has been completed by Kiromic.

    • The research and development group at KRBP-target InSilico has a longstanding cooperative relationship with its clients at MD Anderson Cancer Center, Johns Hopkins School of Medicine, and the National Cancer Institute.
    • Through this acquisition, KRBP stock will bring its bioinformatics expertise in-house in order to extend its lead in developing AI technology that can identify optimal biomarkers needed for cutting-edge immunotherapies like CAR-T cell therapy.
    • Many CAR-T developers continue to use biomarkers with poor clinical outcomes from outdated target libraries that remain in use today.
    • KRBP and InSilico have collaborated extremely effectively over the past three years.
    • Together, they developed an extremely effective system that allows KRBP to identify, from a massive amount of genomic data, the small protein portions that are specific to cancer cells’ surfaces and which can be targeted to treat them.
    • KRBP can accelerate the delivery of effective treatments to patients with this acquisition in an immediate, significant way.
    • In the future, KRBP plans on utilizing artificial intelligence methods to optimize T-cell therapy efficacy.
    • KRBP purchases InSIlico the stock-for-stock method, hiring all inSIlico employees and buying their material and immaterial assets.

    How will KRBP benefit from this acquisition?

    From invention to development, manufacturing, and clinical trials, KRBP will be able to take advantage of computational technologies through the acquisition of InSilico. As Kiromic (KRBP) emerges as a pioneer in innovative cell therapy, upcoming clinical trials will mark a critical milestone, not only for the company but for all of the Cell Therapy industry.