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Friday, December 2, 2022

MABVAX THERAPEUTICS (OTCMKTS:MBVX) Heats Up Fast

MABVAX THERAPEUTICS (OTCMKTS:MBVX) is moving up steadily off its base just over $0.50 a share in recent trading on accelerating volume. The stock has come down a long way since the explosive move up it made from $0.61 to $4.94 highs last year.

The big story on MBVX is billionaire Dr. Phillip Frost $11.6 million investment in the Company; the man is a self-made billionaire with a keen eye on bb’s with big futures (check out COCP and DRNE) and he regularly receives national media attention from the likes of Bloomberg, CNBC and Barron’s.

MABVAX THERAPEUTICS (OTCMKTS:MBVX) is a cancer immunotherapy company focused on the development of vaccine and antibody-based therapies to address unmet medical needs in the treatment of cancer.

MabVax has the exclusive license to the therapeutic vaccines from Memorial Sloan Kettering Cancer Center. MabVax has two cancer vaccines targeting recurrent sarcoma and ovarian cancer in proof of concept Phase II multi-center clinical trials, and a vaccine targeting neuroblastoma ready for Phase II clinical development.

The Company takes a unique approach to identifying the elusive cancer antigen proteins that are effective in fighting cancer. This is the holy grail of cancer research and cancer fighting monoclonal antibodies such as the ones that MBVX is creating have been some of the most significant biotechnology products in the last 10 years generating billions of dollars in sales with products such as Herceptin, Rituxan, and Avastin.

MabVax’s lead product is a monoclonal antibody called 5B1 and all results coming back have been highly promising thus far. 5B1 was derived from a patient with stage IV breast cancer who was vaccinated in 2008 and has remained disease free for over 5 years now. MBVX is quickly moving 5B1 forward as an imaging agent, a naked antibody therapeutic, and an antibody drug conjugate.

Also important to note here is that Juno Therapeutics, an oncology giant trading at a $3.5 billion plus market valuation has been evaluating MabVax’s antibody library for potential use in novel chimeric antigen receptor (CAR) T cells.

It is easy to get excited about MBVX here; the Company has discovered a unique way to identify fully human monoclonal antibodies – the wholly grail of cancer research. Already the Company has the rights to 8 cancer vaccines.

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On April 6 MBVX announced it has closed on gross proceeds of approximately $11.6 million in a private placement led by OPKO Health, Inc. and Dr. Phillip Frost, CEO and Chairman of OPKO Health.

Pursuant to the Private Placement, MabVax issued a total of 15,486,001 units at $0.75 per unit for total gross proceeds of $11,614,501 before issuance costs of approximately $500,000. Each Unit consists of one share of common stock and a 30-month warrant to purchase one-half of one share of common stock (the “Warrant”).   The Warrants are exercisable at $1.50 per each whole share of common stock. Laidlaw & Company (UK) Ltd. acted as an advisor on the transaction.

Dr. Phillip Frost said “The target for MabVax’s first novel human antibody addresses important medical problems in need of better therapeutic solutions. The early data for its HuMab 5B1 antibody are encouraging and MabVax has a pipeline of dozens of novel antibody leads on its discovery platform from which it may select promising candidates to develop through clinical trials.”

On July 18 MBVX announced the initiation of patient enrollment at Memorial Sloan Kettering Cancer Center (MSK) in a Phase I clinical trial evaluating its new generation diagnostic PET imaging agent, MVT-2163 for patients with locally advanced or metastatic adenocarcinoma of the pancreas (PDAC) or other CA19-9 positive malignancies.  This study follows another investigational Phase I trial recently initiated at MSK utilizing the Company’s HuMab-5B1 antibody MVT-5873 as a therapeutic product for the treatment of Pancreatic cancer.

The diagnostic imaging study will administer MVT-2163 as a PET imaging agent for patients with pancreatic cancer.  89Zr-HuMab-5B1 combines a well-established PET imaging radiolabel, Zirconium [Zr-89], with the targeting specificity of the Company’s HuMab-5B1 antibody. This clinical trial will evaluate the safety, pharmacokinetics and biodistribution of MVT-2163 in patients with pancreatic cancer.

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Currently trading at a $17 million market valuation MBVX does have $4.5 million in the treasury and is fully funded moving forward with the backing of Dr. Phillip Frost and his $11.6 million investment. While the stock has suffered as of late and is way down from its previous highs MBVX is an exciting story in small caps; the Company takes a unique approach to identifying the cancer antigens that are the holy grail of cancer research. Continued success of MBVX lead product 5B1 and current valuation or anywhere near it could be history. We will be updating on MBVX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MBVX.

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Disclosure: we hold no position in MBVX either long or short and we have not been compensated for this article.

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