Immunome Inc. IMNM shares,
exploded 212.6% higher towards new highs on Thursday to follow all pre-market winners trading on major US exchanges after the biopharmaceutical company said it isolated potent antibodies that are capable of neutralizing several variants of SARS-CoV-2, including the South African variant (B.1.351) in pseudovirus tests. Turnover was around 506,600 shares, compared to the whole day’s average of around 117,600 shares. The company has been working to develop an antibody cocktail (IMM-BCP-001) that can act as a treatment for COVID-19. “Our findings underscore the power of Immunome’s discovery mechanism to quickly identify antibodies that are widely effective against SARS-CoV-2 and its variants,” said Chief Executive Purnanand Sarma. “We are encouraged by these results and plan to continue efforts to develop these antibodies.” The stock, which went public on October 2, 2020, rose 129.6% year-to-date through Wednesday, while iShares Nasdaq Biotechnology ETF IBB,
advanced 10.6% and the S&P 500 SPX,
gained 4.7%.
