Fusion Antibodies PLC (AIM:FAB) shares jumped on news that it is looking at options to license-out a group of antibodies that bind to an important target for cancer therapeutics, for which it has just filed a patent application.
The contract research organisation, which provided discovery and other services for therapeutic antibodies, said pre-clinical data indicated the antibodies could potentially inhibit pro-tumourigenic activity.
Fusion said it is "exploring options" to out-licence the antibodies to a clinical development company to progress them into Phase I clinical trials.
The shares continued their recovery from the recent lows sparked by its profit warning earlier this month, climbing 11.6% to 37.94p in early trading, before falling to 33p later in the morning.