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Why PDS Biotechnology Corporation (PDSB) stock lost its positivity in Monday’s after-market?

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PDS Biotechnology Corporation (PDSB) shares declined 19.05% in after-market on Monday, June 14, 2021, and closed that day at $10.41 per share. Earlier, PDSB’s stock gained 6.63% in normal Monday’s trading session. PDSB shares have risen 916.60% over the last 12 months, and they have moved up by 36.81% in the past week. Over the past three months, the stock has gained 135.53%, while over the past six months, it has added 489.91%.

Let’s discuss its recent developments briefly

The proposed offering of Common Stock

On June 14, 2021, PDS Biotechnology Corporation commenced an underwritten public offering of shares of its common stock. All of the shares of common stock to be sold in the offering will be offered by PDS Biotech.

Underwriters will get a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.

Oncology Research and Development Day

PDS Biotechnology Corporation will host an Oncology R&D Day for analysts, investors, and the scientific community on Wednesday, June 16, 2021.

Oncology R&D Day will focus on the Company’s advancements in its ongoing preclinical and clinical work and will feature presentations from:

  • Frank Bedu-Addo, President and CEO, PDS Biotech
  • Lauren V. Wood, Chief Medical Officer, PDS Biotech
  • Jeffrey Schlom, Chief of the Laboratory of Tumor Immunology and Biology, Center for Cancer Research, National Cancer Institute, National Institute of Health
  • Julius Strauss, Principal Investigator, Laboratory of Tumor Immunology and Biology, Center for Cancer Research, National Cancer Institute, National Institute of Health
  • Caroline Jochems, Staff Scientist, Laboratory of Tumor Immunology and Biology, Center for Cancer Research, National Cancer Institute, National Institute of Health

Presentation of Interim Data for PDS0101 in NCI-Led Phase 2 Clinical Study 

On June 08, 2021, PDS Biotechnology Corporation presented the interim data for PDS0101from the Phase 2 trial led by the National Cancer Institute (NCI), of the National Institutes of Health (NIH), at the American Society of Clinical Oncology (ASCO) 2021 Annual Meeting.

Data from a total of 25 patients were available as of the time of presentation submission in which, 100% (25/25) of patients enrolled had failed chemotherapy treatment.

96% (24/25) of patients enrolled had failed both chemotherapy and radiation treatment and 56% (14/25) of patients enrolled had failed checkpoint inhibitor therapy (checkpoint inhibitor refractory).

Joining Russell Microcap® Index

On June 07, 2021 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation announced that the company is set to join the Russell Microcap® Index after the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, 2021.

Partnership with Head and Neck Cancer Alliance (HNCA)

On May 27, 2021, PDS Biotechnology announced a partnership with the Head and Neck Cancer Alliance (HNCA). This collaboration will raise awareness of new and developing treatment options, including available clinical trials, for patients with HPV-attributed head and neck cancer diagnoses.

Conclusion

The proposed offer of its common stock could be the reason behind its gain or loss on Monday as there is no other recent news. We have to wait and see how PDSB performs on Tuesday.

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