MabVax Therapeutics (OTCMKTS:MBVX) operating in the cancer diagnostic and immunotherapy genre, will showcase their business model and progress at the 2015 Biotech Showcase.
Their corporate update will include updates on its HuMab 5B1 diagnostic product and therapeutic agent. The drug treats gastrointestinal cancers and assists with diagnosis. It received its Orphan Drug Designation from the FDA in late 2014.
CEO of MabVax, David Hansen, is scheduled to address the audience.
He will also discuss the company’s vaccine program and Phase II clinical trials for two other products.
Mabvax Therapeutics (OTCMKTS:MBVX)’s model blends diagnostic and therapeutic products.The company is hoping to be the first to bind cancer cells and identify susceptible types of cancer.This is to gauge the success of treatments. The success of these trials will determine further approval for the drug.
Via current patients under treatment, the anti-body is recovered. The company is launching dual trials in an effort to determine effectiveness and safety standards for the product. Along with HuMab 5B1 the company has two more products in late stage testing.
The company currently has a market cap of $4 million and the HuMab 5B1 progress makes it a compelling story with high growth potential. Its current valuations pale in comparison to its peers.
Mabvax Therapeutics (OTCMKTS:MBVX) suffered from a drastic fall in the period of September – October 2014 when it dropped from the highs around $15 to the lows of $1. The subsequent bounce was sharp but found a lot of supply pressure from $5 levels and the bears took control once again. This last phase of the drop is well contained in a channel, suggesting the continued intensity of the bear domination but the latest low around $1 has produced the initial possibility of a bullish pattern of Double Bottom.
Mabvax Therapeutics (OTCMKTS:MBVX) lost 8.80% and closed at $1.14 on a volume of 61,907 shares on Friday.