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Summary
- Stocks of biopharmaceutical company Immunome Inc (NASDAQ:IMNM, IMNM:US) catapulted by nearly 76 per cent on Thursday, February 18.
- The surge came after it published a notable update regarding its COVID-19 treatment research.
- Boosted by Thursday’s surge, the health care stock now records a year-to-date growth of nearly 303 per cent.
Stocks of biopharmaceutical company Immunome Inc (NASDAQ:IMNM, IMNM:US) catapulted by nearly 76 per cent on Thursday, February 18, after it published a notable update regarding COVID-19 treatment research. The surge resulted in the pharma stock registering a fresh 52-week high of US$ 63.78, although it ultimately closed the day’s trading at US$ 39.01.
Immunome Inc is a Pennsylvania-based firm that focuses in the discovery and development of antibody therapeutics using human memory B cell platform.
Let’s delve in to learn more about Immunome’s latest COVID-19 treatment update to understand its impact on the stock price surge.
Immunome’s Discovery Of Antibodies Capable of Neutralizing COVID-19 Variants
Immunome announced on Thursday that it has discovered “potent antibodies”, which have the capacity to neutralize many of the variants of SARS-CoV-2, the virus that causes COVID-19.
The antibodies, Immunome pointed, was able to neutralize the coronavirus variant detected in South Africa (B.1.351) in its pseudovirus testing.
©Kalkine Group 2020
As the human race continues to combat the novel coronavirus pandemic that broke out in March last year, several new variants of the virus have reportedly cropped in different corners of the world. While campaigns for COVID-19 vaccination have kickstarted in multiple nations, many health authorities have raised their concerns about the efficacy of the authorized vaccines against the new mutant variants.
Immunome is currently working on a research to come up with a blend of antibodies that attack the virus’ spike and non-spike proteins and, in turn, help in treating COVID-19. The company’s latest discovery was a part of this research.
Considering that a major research for a disease like COVID-19 would require a significant capital support, Immunome’s financial status comes to question. As per reports, the US Department of Defense has awarded the American biopharmaceutical firm a funding of US$ 13.3 million to support its research program. The company also reportedly generated a capital of about US$ 39 million in its initial public offering (IPO) that was held in October last year.
Immunome (NASDAQ:IMNM) Stocks Fly 75% On COVID Research Update
- Stocks of biopharmaceutical company Immunome Inc (NASDAQ:IMNM, IMNM:US) catapulted by nearly 76 per cent on Thursday, February 18.
- The surge came after it published a notable update regarding its COVID-19 treatment research.
- Boosted by Thursday’s surge, the health care stock now records a year-to-date growth of nearly 303 per cent.
Stocks of biopharmaceutical company Immunome Inc (NASDAQ:IMNM, IMNM:US) catapulted by nearly 76 per cent on Thursday, February 18, after it published a notable update regarding COVID-19 treatment research. The surge resulted in the pharma stock registering a fresh 52-week high of US$ 63.78, although it ultimately closed the day’s trading at US$ 39.01.
Immunome Inc is a Pennsylvania-based firm that focuses in the discovery and development of antibody therapeutics using human memory B cell platform.
Let’s delve in to learn more about Immunome’s latest COVID-19 treatment update to understand its impact on the stock price surge.
Immunome’s Discovery Of Antibodies Capable of Neutralizing COVID-19 Variants
Immunome announced on Thursday that it has discovered “potent antibodies”, which have the capacity to neutralize many of the variants of SARS-CoV-2, the virus that causes COVID-19.
The antibodies, Immunome pointed, was able to neutralize the coronavirus variant detected in South Africa (B.1.351) in its pseudovirus testing.
©Kalkine Group 2020
As the human race continues to combat the novel coronavirus pandemic that broke out in March last year, several new variants of the virus have reportedly cropped in different corners of the world. While campaigns for COVID-19 vaccination have kickstarted in multiple nations, many health authorities have raised their concerns about the efficacy of the authorized vaccines against the new mutant variants.
Immunome is currently working on a research to come up with a blend of antibodies that attack the virus’ spike and non-spike proteins and, in turn, help in treating COVID-19. The company’s latest discovery was a part of this research.
Considering that a major research for a disease like COVID-19 would require a significant capital support, Immunome’s financial status comes to question. As per reports, the US Department of Defense has awarded the American biopharmaceutical firm a funding of US$ 13.3 million to support its research program. The company also reportedly generated a capital of about US$ 39 million in its initial public offering (IPO) that was held in October last year.
Immunome Inc (NASDAQ:IMNM, IMNM:US) Stock Performance
Since debuting on the Nasdaq Stock Exchange on October 2, 2020, at a public offering price of US$ 12 apiece, Immunome stocks have rocketed by about 225 per cent in the last four months. Boosted by Thursday’s surge, the health care stock now records a year-to-date growth of nearly 303 per cent.
Immunome Inc (NASDAQ:IMNM, IMNM:US) Stock Performance
Since debuting on the Nasdaq Stock Exchange on October 2, 2020, at a public offering price of US$ 12 apiece, Immunome stocks have rocketed by about 225 per cent in the last four months. Boosted by Thursday’s surge, the health care stock now records a year-to-date growth of nearly 303 per cent.
