Tiziana Life Sciences (NASDAQ:TLSA) Stock Gains Momentum: Jumps 9%

Tiziana Life Sciences (NASDAQ: TLSA) was up 9% after announcing encouraging findings in a patient with Secondary Multiple Sclerosis after finishing six months of treatment using intranasally delivered Foralumab at Harvard University Brigham and Women’s Hospital, Boston.

Market Stats

On Friday, TLSA stock surged 8.82% to  $1.04 with more than 734K shares, compared to its average volume of 286K shares. The stock moved within a range of $0.8900 – 1.0500 after opening trading at $0.90.

Tiziana Announces Positive Clinical Data from A Secondary Progressive Multiple Sclerosis Patient Treated for Six Months with Intranasally Administered Foralumab, A Fully Human Anti-CD3 Monoclonal Antibody

Additionally, to being well-tolerated, there were clinical and biological improvements in the patient using the company’s proprietary immunotherapy tech that overcame the challenge of administering the antibody across the patient’s brain barrier to impact immunomodulation.

Before therapy, this patient has been experiencing deteriorating disease progression notwithstanding these MS medications, including B cell depletion. In addition, over the previous two years, the physician’s stride and limb function had deteriorated. The patient was then put on intranasal foralumab, which helped to stabilize his illness.

Tiziana also gained FDA approval to treat the subject for another Six months to see whether 12 months of continuous therapy maintain clinical stability and deliver long-term therapeutic benefits. Therefore, in the coming weeks, investors should keep an eye on TLSA.

Key Quote

Howard Weiner, MD, Director of the Multiple Sclerosis Program at BWH and Chairman of Tiziana’s Scientific Advisory Board, commented, “The potential for intranasally administered foralumab to suppress microglial activation is a novel and well-tolerated immunologic approach to potentially treat SPMS, a form of MS that currently has no effective treatment. We are extremely pleased with the tolerability of intranasal foralumab and with the positive clinical and PET imaging responses observed after completion of six months of dosing in the first patient. We look forward to treating additional patients to fill a major unmet need for the treatment of SPMS.”

Traders Corner

TLSA stock is trading above the 20-Day and 50-Day Moving averages of $0.81 and $0.83 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.50.