STOCK TITAN

GT Biopharma, Inc. - GTBP STOCK NEWS

Welcome to our dedicated page for GT Biopharma news (Ticker: GTBP), a resource for investors and traders seeking the latest updates and insights on GT Biopharma stock.

GT Biopharma Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing novel immuno-oncology products targeting cancers such as acute myeloid leukemia, myeloid dysplastic syndrome, and multiple solid tumors. Leveraging its proprietary NK cell engager (TriKE) platform technology, the company is dedicated to advancing innovative therapeutics in the United States. With a primary focus on cancer treatment, GT Biopharma's TriKE platforms offer promising solutions for hematologic malignancies, sarcoma, and solid tumors.

Rhea-AI Summary

GT Biopharma (NASDAQ: GTBP), a clinical-stage immuno-oncology company, has announced FDA clearance for its Investigational New Drug (IND) application for GTB-3650, a novel NK cell engager targeting CD33+ leukemia. The Phase 1 trial for GTB-3650 is set to begin in the second half of 2024, with initial clinical data expected in the first half of 2025. Additionally, GT Biopharma plans to submit an IND for GTB-5550, targeting B7H3 positive solid tumors, in Q1 2025, with the corresponding Phase 1 trial expected to start later in 2025. The current cash runway is expected to fund operations into 2025. GTB-3650 will be assessed in a dose-escalation study involving adult patients with relapsed or refractory CD33 expressing hematologic malignancies, including AML and high-risk MDS. The study will evaluate safety, pharmacokinetics, pharmacodynamics, NK cell expansion, and clinical activity.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.08%
Tags
-
Rhea-AI Summary

GT Biopharma (NASDAQ: GTBP) announced a registered direct offering involving the sale of 740,000 common stock shares at $4.35 each, totaling approximately $3.2 million before fees. Concurrently, the company will issue warrants to purchase another 740,000 shares at the same price, exercisable immediately and valid for five years. The offering, expected to close by May 23, 2024, aims to fund general corporate purposes. Roth Capital Partners acts as the exclusive placement agent. The offer leverages a registration statement declared effective by the SEC in October 2022, while the warrants are issued in a private placement under Section 4(a)(2) of the Securities Act.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-28.21%
Tags
-
Rhea-AI Summary

GT Biopharma (NASDAQ: GTBP) reported its Q1 2024 financial results and provided a corporate update. Key highlights include the anticipated IND clearance for GTB-3650, a nanobody TriKE® for CD33+ leukemia in Q2 2024, and Phase 1 trial initiation in 2H 2024. The company also expects to submit an IND for GTB-5550 in Q4 2024, targeting B7H3-positive solid tumors, with a Phase 1 trial planned for early 2025. GT Biopharma reported $9.81 million in cash as of March 31, 2024, enough to fund operations into 2025. R&D expenses decreased significantly to $777,000 from $1.65 million YoY, while SG&A expenses rose to $2.31 million from $2.02 million YoY. Net loss widened to $2.27 million from $227,000 in Q1 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.21%
Tags
Rhea-AI Summary
GT Biopharma, Inc. announces progress with FDA for GTB-3650 and plans for Phase 1 trial, submission of IND for GTB-5550, and cash position of $14 million. Financially, the company had a decrease in R&D and G&A expenses, an increase in other income, and reported a reduced net loss for Q4 and full-year 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.68%
Tags
-
Rhea-AI Summary
GT Biopharma, Inc. announces a reverse stock split at a ratio of 1-for-30 to regain compliance with the Minimum Bid Price Requirement of $1.00 per share for continued listing on The Nasdaq Capital Market. The reverse stock split reduces the number of outstanding common stock shares from approximately 41,419,000 shares to approximately 1,380,633 shares. The reverse stock split will become effective at 5:00 p.m. Eastern time, on February 2, 2024, and the Company's common stock will begin trading on a post-split basis at the market open on February 5, 2024 under the symbol 'GTBP'.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2715.15%
Tags
-
Rhea-AI Summary
GT Biopharma, Inc. (NASDAQ: GTBP) has submitted an Investigational New Drug (IND) application for GTB-3650, a 2nd generation nanobody TriKE® for the treatment of CD33+ leukemia. The company aims to advance this molecule into the clinic in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.91%
Tags
none
Rhea-AI Summary
GT Biopharma announces positive preclinical data for GTB-5550 in prostate cancer. The TriKE molecule demonstrated improved tumor control and NK cell cytotoxicity, even in resistant lines and hypoxia. The findings support the TriKE technology and its potential in prostate cancer treatment.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
GT Biopharma announces third quarter 2023 results, plans to submit IND for GTB-3650 in Q4 2023, and has cash of $16 million as of September 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.4%
Tags
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.87%
Tags
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.43%
Tags
conferences

FAQ

What is GT Biopharma Inc. focused on?

GT Biopharma is focused on developing and commercializing novel immuno-oncology products targeting cancers such as acute myeloid leukemia, myeloid dysplastic syndrome, and multiple solid tumors.

What is GT Biopharma's proprietary platform technology?

GT Biopharma leverages its NK cell engager (TriKE) platform technology to develop innovative therapeutics for a varied range of disease areas, with a primary focus on cancer treatment.

What types of cancers does GT Biopharma's TriKE platforms target?

GT Biopharma's TriKE platforms offer immuno-oncology products that can treat a range of hematologic malignancies, sarcoma, and solid tumors.

What stage is GT Biopharma currently in?

GT Biopharma is a clinical-stage biopharmaceutical company, actively engaged in discovering, developing, and commercializing novel therapeutics from its proprietary product platform.

What sets GT Biopharma apart in the biopharmaceutical industry?

GT Biopharma's innovative TriKE platforms and focus on immuno-oncology products position it as a key player in the development of effective treatments for various types of cancer.

GT Biopharma, Inc.

Nasdaq:GTBP

GTBP Rankings

GTBP Stock Data

5.93M
2.16M
6.67%
15.67%
1.48%
Pharmaceutical Preparation Manufacturing
Manufacturing
Link
United States of America
BRISBANE