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Tuesday, June 6, 2023

What Happened On Tuesday Pre-Hours To Make Magenta Therapeutics (MGTA) Stock Surge?

When last checked, shares of Magenta Therapeutics Inc. (Nasdaq: MGTA) were soaring 45.22% to trade at $1.67 in pre-market on the release of top-line clinical study findings.

What declaration has the MGTA made?

In a presentation Monday at the American Society of Hematology 2022 Annual (ASH) Session in New Orleans, Magenta Therapeutics (MGTA) presented new clinical data from the current MGTA-117 Phase 1/2 dose-escalation clinical study and gave program updates across the portfolio.

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In its ongoing Phase 1/2 clinical trial, Magenta Therapeutics has demonstrated that a single dosage of MGTA-117 attaches target cells, uses up target cells, clears the body swiftly as intended, and does so using a favorable tolerability profile. These encouraging clinical results demonstrate the mechanism of action and demonstrate that the MGTA dosage has been attained.

Target cell depletion is a crucial indicator of MGTA-117’s effectiveness, and the degrees of depletion that MGTA has seen in the blood and bone marrow of relapsed or refractory patients with myelodysplastic syndrome (MDS) and acute myeloid leukemia (AML) are encouraging.

The next steps that MGTA has planned involve administering MGTA-117 to patients with AML and MDS who are transplant-eligible as well as to those who are undergoing gene therapy. The momentum throughout its pipeline and the several projected tipping point for Magenta in the upcoming year is also astounding, in addition to the advancements, it is making on MGTA-145 and CD45-ADC.

Magenta Therapeutics has begun official interactions with regulatory organizations to move MGTA-117 into the transplant-eligible MDS and AML pediatric group, as previously stated. Additionally, MGTA intends to work with regulators in H1 2023 to launch an MGTA-117 clinical trial for autologous ex vivo gene therapy.

An MGTA conference call is scheduled:

In addition, today at 8:30 a.m. Eastern Time (ET) / 7:30 a.m. Central Time (CT), Magenta Therapeutics (MGTA) will host a conference call and webcast to discuss the MGTA-117 clinical data from its ongoing Phase 1/2 dose development research study that will be displayed at the 2022 ASH Meeting.

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