HCW Biologics (HCWB) said Tuesday that studies show its HCW9206 fusion protein opens up a new pathway for generating chimeric T-cell receptors for immunotherapy with increased function.

The clinical-stage company said HCW9206 has the potential to "significantly" reduce costs while improving clinical efficacy of engineered effector T-cells.

The data were presented at the annual meeting of American Association of Immunologists in Honolulu, Hawaii, the company said.

HCW said it is now seeking commercial partnerships for HCW9206 reagent sale and/or integration into CAR-T based manufacturing processes.

Shares of the company were up 153% in recent trading on Tuesday.