Immunome (IMNM) Stock: Why The Price Increased

By Amit Chowdhry ● Nov 30, 2021
  • The stock price of Immunome Inc (NASDAQ: IMNM) increased by 12.55% in the most recent trading session. This is why it happened.

The stock price of Immunome Inc (NASDAQ: IMNM) – a biopharmaceutical company that utilizes its human memory B cell platform to discover and develop first-in-class antibody therapeutics – increased by 12.55% in the most recent trading session. Investors are responding positively to Immunome announcing that it has submitted an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) for IMM-BCP-01, a three-antibody cocktail, for the treatment of SARS-CoV-2 (COVID-19).

IMM-BCP-01 is a 3-antibody cocktail targeting non-overlapping regions of the spike protein and elicits multi-modal activity in pre-clinical testing, including both ACE2 and non-ACE2 dependent neutralization, as well as inducing natural viral clearance mechanisms like complement activation and phagocytosis. And the cocktail significantly reduces viral load in lungs of the hamsters infected with SARS-CoV-2, and broadly neutralizes CDC current and former variants of concern, including the delta variant, in in-vitro testing.

Immunome’s preclinical work includes investigational product safety testing. And Immunome plans to initiate a placebo-controlled dose escalation study of IMM-BCP-01 in patients infected with SARS-CoV-2, pending FDA’s acceptance of Immunome’s IND submission.

This investigational work was funded by the U.S. Department of Defense’s (DOD) Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND) in collaboration with the Defense Health Agency (DHA). (Contract number: W911QY-20-9-0019).

KEY QUOTES:

“I am thrilled that Immunome has submitted its first IND, which is another milestone towards advancing IMM-BCP-01 into the clinic. We look forward to a close collaboration with clinical investigators to study this important and novel candidate for the treatment of COVID-19, especially as the pandemic continues to be a major public health issue. With the continued emergence of new variants, such as Omicron, and resurgence in SARS-CoV-2 cases despite high vaccination rates, we believe therapeutic treatment options for COVID-19 are essential. We further believe that a carefully designed cocktail, based on direct human immune response against SARS-CoV-2, could provide a novel and powerful approach to combat this virus.”

— Purnanand Sarma, PhD, President & CEO of Immunome

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.