The biopharmaceutical company Brooklyn ImmunoTherapeutics Inc (NYSEAMERICAN:BTX) is on the move again this morning and has jumped by 5% at this point.
Although there has been no fresh news about the company, the rally might be linked to an announcement earlier this week from Brooklyn about the establishment of a new research and development center. The center is located in Cambridge, Massachusetts, and is going to be used for the company’s work into cellular therapies and gene editing based on mRNA.
This is a significant development for Brooklyn. The company has already got exclusive global licenses for developing and commercializing cell-based therapeutics from Novella Therapeutics Limited and Factor Bioscience Limited. The therapies are meant for treating cancer and also for some uncommon blood-related disorders. The new facility is going to be vital for the company’s considerable research and development activities going forward. Investors could do well to keep an eye on the stock.