What happened Shares of Inhibrx (NASDAQ: INBX), a clinical-stage biotechnology company, jumped when the market opened today. Investors excited about the company's latest clinical trial readout pushed the stock 26.8% higher as of 11:29 a.m. on Tuesday. So what Today, Inhibrx reported top-line data from a phase 1 trial with INBRX-101. This is the company's specialized version of alpha-1 antitrypsin (AAT), a protein that protects lung tissue. Image source: Getty Images. A lack of AAT can be treated with weekly infusions of a substance extracted from human plasma. Inhibrx designed INBRX-101 to remain at therapeutic concentrations for at least a few weeks after each infusion. Today, Inhibrx reported encouraging results from a phase 1 dose determination study that suggest the biotech is on the right track. Patients given multiple doses of INBRX-101 every three weeks maintained functional AAT levels between doses that exceeded target concentrations for traditional replacement therapy. Now what An estimated 100,000 Americans are living with AAT deficiency, and a new treatment option that greatly reduces infusion frequency could generate more than $1 billion in annual sales. Earlier this year, the market hammered shares of Vertex Pharmaceuticals (NASDAQ: VRTX) after an oral candidate for AAT deficiency failed to hit high marks in a clinical trial. Inhibrx's gain today would be much larger if it weren't for two RNA interference drug candidates already in midstage clinical trials. Next year, Arrowhead Pharmaceuticals will wrap up a phase 2 study with ARO-AAT. Belcesiran from partners Dicerna and Alnylam is also in a phase 2 trial with top-line results expected next year. 10 stocks we like better than Inhibrx, Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Inhibrx, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Cory Renauer has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.Source