Kairos Pharma, Ltd. (NYSE:KAPA) shares surged 22.64% to $0.39 in after-hours trading on Wednesday following the company’s announcement of positive interim safety data for its lead cancer drug candidate. The stock had closed down 6.47% at $0.32 during regular trading.
Safety Data Fuels Investor Optimism
The Los Angeles-based biopharmaceutical company reported that none of the 13 patients treated in the Phase 1 trial experienced serious adverse events. The study evaluated ENV-105 (carotuximab), an investigational, first-in-class antibody developed by Kairos Pharma to help overcome drug resistance in various cancers, in combination with AstraZeneca’s Tagrisso for patients with drug-resistant, EGFR-mutated non-small cell lung cancer.
Targeting a Multibillion-Dollar Market
According to Kairos, the EGFR-NSCLC market is valued at roughly $10 billion, with Tagrisso alone generating about $6 billion annually. No Food and Drug Administration-approved therapy currently reverses resistance to it.
CEO Dr. John Yu said the goal is a “re-sensitization solution that changes the post-progression treatment paradigm and positions Kairos as the essential complement to the EGFR-targeted therapy market with this clean safety profile now confirmed across 13 patients.”
Broader Clinical Validation Beyond Lung Cancer
The company also stated that ENV-105’s potential extends further. In a separate Phase 2 trial for castrate-resistant prostate cancer, the drug delivered median progression-free survival exceeding 13 months, outperforming standard of care.
Chief Science Officer Dr. Neil Bhowmick called the drug “extremely well tolerated” across both indications, calling the data another milestone toward improving long-term patient care.
Trading Metrics, Technical Analysis
Kairos has a market capitalization of $6.81 million, with a 52-week high of $2.11 and a 52-week low of $0.30.
The stock’s trading volume increased to 35.28 million shares on Wednesday, about 314 times higher than its average daily volume of 112,320 shares, showing a significant rise in trading activity.
The Relative Strength Index (RSI) of KAPA stands at 29.58, while short interest is at 1.07%.
Over the past 12 months, the stock has dropped 70.83%.
KAPA is currently trading near its 52-week low.
Price Action: The biotech stock had closed on Wednesday at $0.32, down 6.47%, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings indicate that KAPA has a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Golden Dayz on Shutterstock.com
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