11:55 AM EDT, 04/04/2024 (MT Newswires) -- TC Biopharm ( TCBP ) shares climbed more than 59% in recent Thursday trading after the company said it executed a non-binding letter of intent to acquire the manufacturing process of two allogeneic CAR-NK therapeutics.

The letter of intent grants TC Biopharm ( TCBP ) exclusivity while the parties work on a definitive agreement, according to the company. There is no guarantee that a definitive agreement would be executed or a transaction would be completed, the company added.

Both therapeutics are valuable as monotherapies as well as in conjunction with TCB-008 in the future, the company said, adding these assets are initially targeted to treat solid tumors but have potential in combination with TCB-008 for multiple platforms.

Price: 2.07, Change: +0.77, Percent Change: +59.23