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IPO Lockup Expiration: Kiromic Biopharma

kiromicbiopharma april12 lt

The lockup period of Houston, Texas-based Kiromic Biopharma (KRBP) expires today, i.e., April 14, 2021.

Kiromic Biopharma is a target discovery and gene-editing company utilizing artificial intelligence for developing immuno-oncology therapies for the treatment of solid tumors and blood cancers. The company's proprietary target discovery platform used to identify new cancer immunological targets for T cells and B cells is known as "Diamond."

Last December, the company filed two Investigational New Drug (IND) applications seeking FDA clearance

-- To initiate a Phase 1 clinical trial of intravenously administered allogeneic CAR-T for epithelial ovarian carcinoma and malignant pleural mesothelioma ("MPM").

-- To initiate a Phase 1 clinical trial of an intrapleural/intraperitoneal administered allogeneic CAR-T for EOC and MPM.

Since filing of the applications in December 2020, the company has had communications with the FDA, and numerous consults with scientific board and clinical advisors regarding resubmission.

Last month, the company announced that it has planned to resubmit the two INDs, and filing of the applications is expected this quarter.

Kiromic Biopharma made its debut on the Nasdaq Global Select Market on October 16, 2020, offering its shares at a price of $12 each.

As mentioned above, the 180 day lockup period expires on April 14, 2021.

KRBP opened the first day of trading (i.e. October 16, 2020) at $11.80 and closed at $11.50 that day. The stock has thus far hit a low of $8.01 and a high of $18.50.

KRBP closed Tuesday's trading at $9.63, up 4.33%.

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