Biotech stock Lava Therapeutics (NASDAQ:LVTX) is on a serious hot streak today. So far, it’s up on a double-digit surge and climbing. The big reason for the climb is simple: a new deal with Johnson & Johnson (NYSE:JNJ) and its Janssen Biotech unit that could see a whole new cancer treatment get underway.
Back in 2020, Lava got together with Janssen to work on a new antibody system that would ultimately target gamma-delta T cells. Such a substance would make it, quite possibly, a big name in fighting cancer. Now, Janssen has chosen such a candidate for further development and will now be the leader in developing, producing, and marketing the result.
Lava Therapeutics’ president and CEO, Stephen Hurly, noted that Lava was “…pioneering the development of gamma-delta bispecific antibodies to treat cancer through our proprietary Gammabody platform…” The treatment in question will continue to be developed and passed through clinical testing. Hopefully, not long after that, a viable treatment will emerge.
Lava Therapeutics has already proven attractive to analysts. Four Buy ratings make it a Strong Buy by unanimous analyst consensus. Further, with an average price target of $12.50 per share, Lava Therapeutics stock offers investors a 275.38% upside potential.
