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Intec Pharma Ltd. (NTEC) stock declines in the pre-market trading. What’s happening?

Intec Pharma Ltd. (NTEC) stock gained by 9.9% at the last trading close whereas the NTEC share price projects a decline of 6.93% at last check in the pre-market trading session. Intec Pharma is a clinical-stage biopharmaceutical firm specializing in the development of drugs based on the Accordion Pill platform technology. NTEC’s Accordion Pill is an oral drug delivery device that uses an effective gastric retention and specific release mechanism to increase the potency and safety of current and developing medications.


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Recent Past Development

On March 15, 2021, NTEC announced that it has reached a definitive agreement to merge with Decoy Biosystems, Inc., a privately owned preclinical-stage biotechnology firm developing new, multi-targeted drugs that safely prime both endogenous and adaptive anti-tumor and anti-viral immune responses. The merged business will improve its immunotherapy program to fight a wide range of tumor forms and chronic viral infections. Decoy recently met with the FDA for a pre-IND meeting and now expects to file an IND in the second half of 2021 and begin a Phase I clinical trial in 2022, focusing on solid tumors and lymphomas.

Furthermore,

Dr. Roger Pomerantz who is anticipated to be the Chairman of the Board of Directors of the combined company said that Decoy’s bacteria-based technology is an innovative treatment option that has the ability to revolutionize cancer and chronic infectious disease treatment.

Jeffrey A. Meckler, Vice Chairman and Chief Executive Officer of Intec Pharma commented that this game-changing deal gives Intec a strong clinical pipeline based on a novel immunotherapy platform, as well as a foothold in the exciting field of immuno-oncology. NTEC’s move into immuno-oncology takes advantage of Intec’s senior leadership and presents an interesting, potentially value-creating prospect for our shareholders.

Post-merger news,

Two of the very famous investigation firms, Halper Sadeh LLP and WeissLaw LLP is investigating the possible breaches of fiduciary duty and other violations of law by the board of directors of Intec Pharma Ltd.

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