CORRECTED-Kite Pharma's lead cancer therapy shows promise in study

Mon Aug 25, 2014 5:06pm EDT

(Corrects paragraph 4 to change share price to $30.15 from $33.33)

Aug 25 (Reuters) - Drug developer Kite Pharma Inc said its experimental cancer therapy showed potential in treating patients in an early-stage study.

The company's lead drug, KTE-C19, is being developed to fight an aggressive form of blood cancer.

The immunotherapy involves genetically modifying a patient's cells to target a protein found on the surface of some lymphoma and leukemia cells.

Kite's shares were up 35.2 percent at $30.15 in extended trading. (Reporting by Amrutha Penumudi in Bangalore; Editing by Kirti Pandey)