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Instil (TIL) Stock Rises More Than 20% in a Week: Here's Why
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Shares of Instil Bio, Inc. (TIL - Free Report) have rallied 22.2% in the past week against the industry’s decrease of 0.2%.
Instil is engaged in developing tumor infiltrating lymphocyte, or TIL, therapies targeting multiple cancer indications.
Earlier this week, the company entered into an agreement with an unknown collaborator who will conduct preclinical manufacturing feasibility studies on its ITIL-306, a next-generation, genetically engineered TIL therapy, which is being developed for treating multiple solid tumors.
Per the company, the collaborator has already started the feasibility studies on ITIL-306, and if successful, it may begin an investigator-initiated clinical study aimed at enrolling patients with non-small cell lung cancer (NSCLC) in China.
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Concurrently, Instil announced that it has decided to close its UK manufacturing facility and clinical operations to save costs. This is likely to be completed by the first half of 2024.
This could have been one of the factors driving the stock’s rise in the said time frame.
Apart from NSCLC, ITIL-306 is also being investigated in early-stage studies for the treatment of ovarian cancer and renal cell carcinoma. Initial data from the phase I ITIL-306-202 study evaluating ITIL-306 in NSCLC is expected later in 2024.
Instil currently does not have any approved product in its portfolio. Therefore, in the absence of a marketed product, the successful development of ITIL-306 and other candidates remains the key focus area for the company.
In the past 60 days, estimates for Regeneron’s 2024 earnings per share have improved from $41.57 to $43.96. In the past year, shares of REGN have rallied 29.8%.
Earnings of Regeneron beat estimates in each of the trailing last four quarters. REGN delivered a four-quarter average earnings surprise of 12.34%.
In the past 60 days, estimates for CytomX Therapeutics’ 2024 loss per share have narrowed from 22 cents to 6 cents. In the past year, shares of CTMX have plunged 34.8%.
CytomX Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. CTMX delivered a four-quarter earnings surprise of 45.44%, on average.
In the past 60 days, estimates for Puma Biotechnology’s 2024 earnings per share have improved from 62 cents to 69 cents. In the past year, shares of PBYI have risen 16.4%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
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Instil (TIL) Stock Rises More Than 20% in a Week: Here's Why
Shares of Instil Bio, Inc. (TIL - Free Report) have rallied 22.2% in the past week against the industry’s decrease of 0.2%.
Instil is engaged in developing tumor infiltrating lymphocyte, or TIL, therapies targeting multiple cancer indications.
Earlier this week, the company entered into an agreement with an unknown collaborator who will conduct preclinical manufacturing feasibility studies on its ITIL-306, a next-generation, genetically engineered TIL therapy, which is being developed for treating multiple solid tumors.
Per the company, the collaborator has already started the feasibility studies on ITIL-306, and if successful, it may begin an investigator-initiated clinical study aimed at enrolling patients with non-small cell lung cancer (NSCLC) in China.
Concurrently, Instil announced that it has decided to close its UK manufacturing facility and clinical operations to save costs. This is likely to be completed by the first half of 2024.
This could have been one of the factors driving the stock’s rise in the said time frame.
Apart from NSCLC, ITIL-306 is also being investigated in early-stage studies for the treatment of ovarian cancer and renal cell carcinoma. Initial data from the phase I ITIL-306-202 study evaluating ITIL-306 in NSCLC is expected later in 2024.
Instil currently does not have any approved product in its portfolio. Therefore, in the absence of a marketed product, the successful development of ITIL-306 and other candidates remains the key focus area for the company.
Instil Bio, Inc. Price
Instil Bio, Inc. price | Instil Bio, Inc. Quote
Zacks Rank & Stocks to Consider
Instil currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Regeneron Pharmaceuticals, Inc. (REGN - Free Report) , CytomX Therapeutics, Inc. (CTMX - Free Report) and Puma Biotechnology, Inc. (PBYI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Regeneron’s 2024 earnings per share have improved from $41.57 to $43.96. In the past year, shares of REGN have rallied 29.8%.
Earnings of Regeneron beat estimates in each of the trailing last four quarters. REGN delivered a four-quarter average earnings surprise of 12.34%.
In the past 60 days, estimates for CytomX Therapeutics’ 2024 loss per share have narrowed from 22 cents to 6 cents. In the past year, shares of CTMX have plunged 34.8%.
CytomX Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. CTMX delivered a four-quarter earnings surprise of 45.44%, on average.
In the past 60 days, estimates for Puma Biotechnology’s 2024 earnings per share have improved from 62 cents to 69 cents. In the past year, shares of PBYI have risen 16.4%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.