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PDS Biotechnology Corporation (NASDAQ: PDSB) Tanks 26.45% Despite Joining Russell Microcap Index

PDS Biotechnology Corporation (NASDAQ: PDSB) lost 26.45% after the company indicated that it will join the Russell Microcap Index at the end of the 2021 Russell Indexes annual reconstitution as from June 28 after the market opens. 

PDS Biotech to be an FTSE Russell member 

A one-year membership in the Russell Microcap Index entitles a company to automatic participation in the relevant growth and value style indexes. Usually, objective market cap ranking and style characteristics are vital in determining membership to FTSE Russell indexes.

PDS Biotech CEO and  President Dr. Frank Bedu-Addo said that the company and stockholders gain incredibly from inclusion in the Index since it raises visibility in the investing community. Bedu-Addo said they are delighted to continue working on PDS0101’s clinical development while advancing other oncology pipeline items.

PDS Biotechnology advancing HPV-associated head and neck cancer therapy 

The company announced a protocol amendment to expand the Phase 2 VERSATILE-002 trial to include refractory checkpoint inhibitor patients. The VERSATILE-002 trial is now being conducted at about 20 clinical sites across the US to assess PDS0101 in combination with KEYTRUDA® (pembrolizumab) in the treatment of advanced human papillomavirus (HPV)-associated head and neck cancer.

VERSATILE-002 was initially designed for checkpoint inhibitor-naive HPV16-associated head and neck cancer patients receiving first-line treatment for recurrent or metastatic cancer. The study is now enrolling patients preferring not to receive chemotherapy as the first line of treatment for recurrent cancer and instead receive two immunotherapies.

The company recently announced a strategic partnership with Head and Neck Cancer Alliance (HNCA); the partnership raises awareness on new and developing treatment alternatives, including clinical studies for individuals with HPV-associated with head and neck cancer. PDS Biotech is working on HPV-associated head and neck cancer with its PDS0101 candidate.

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