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