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Summary
- Stocks of Canadian biotechnology firm ImmunoPrecise Antibodies Ltd (TSXV:IPA) shot up by roughly 21 per cent in premarket trading on Friday morning.
- The surge came on the heels of the company announcing positive data from its antibody cocktail program for COVID-19.
- The junior health care firm records a stock price spike of over 143 per cent for the last three months.
Stocks of Canadian biotechnology firm ImmunoPrecise Antibodies Ltd (TSXV:IPA) shot up by roughly 21 per cent in premarket trading on Friday morning, February 19 (9:00AM EST). The surge came on the heels of the company announcing positive data from its antibody cocktail program for COVID-19.
ImmunoPrecise Antibodies, headquartered in Victoria, British Columbia, focuses in the development and supply of custom antibodies for research and industrial purposes. Let’s find out more about its COVID-19 research data that boosted its stock price.
ImmunoPrecise’s Preclinical Data For COVID Antibody Cocktail – Key Highlights
As a part of the preclinical research, ImmunoPrecise had tested its antibody cocktail, TATX-03 PolyTope, on a batch of hamsters infected with SARS-CoV-2, the virus that causes COVID-19. Following the treatment, tests reportedly showed the absence of any detectable, mutation-competent COVID-19 virus in the lungs and throat of the infected animals.
Based on the results, ImmunoPrecise stated that the TATX-03 PolyTope treatment was 100 per cent effective in treating the COVID-infected hamsters in a therapeutic setting.
©Kalkine Group 2020
The animals were given a single dose of the antibody treatment as a part of the study, and their lungs were 100 per cent clear of COVID-19 virus by the fourth day of infection.
ImmunoPrecise said in the release that it plans to carry out what could likely the final round of studies that will enable an Investigational New Drug (IND) in the second quarter on 2021. This, the company said, will potentially result in providing the final preclinical data point required to allow a clinical evaluation of the TATX-03 antibody cocktail.
ImmunoPrecise Antibodies (TSXV:IPA) Stock Performance
Current Stock Price: C$ 19.6
Stocks of ImmunoPrecise Antibodies are currently soaring among the emerging and top junior health care companies on the Toronto Stock Exchange Venture (TSXV). The health care stock records a stock price spike of over 143 per cent for the last three months.
The IPA stock closed trading at a price of C$ 19.6 on Thursday, after jumping by nearly 12 per cent.
Founded in 1983, ImmunoPrecise holds a market cap of C$ 333 million at the moment (as per TMX data).
