Immunome stock more than triples after antibody isolation in treatment of COVID-19 variants

Immunome Inc. IMNM shares,
+ 103.51%
rose 212.6% to new highs on Thursday, to set the pace for all pre-market winners listed on major U.S. exchanges, after the biopharmaceutical company said it has isolated potent antibodies that are capable to neutralize several variants of SARS-CoV-2, including the South African variant (B.1.351) in pseudovirus tests. The trading volume was approximately 506,600 shares, compared to a full day average of approximately 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 the Immunome discovery engine to rapidly identify antibodies that are broadly effective against SARS-CoV-2 and its variants,” said CEO Purnanand Sarma. “We are encouraged by these results and plan to continue development efforts for these antibodies.” The stock, which went public on October 2, 2020, is up 129.6% to date as of Wednesday, while iShares Nasdaq Biotechnology ETF IBB
has advanced 10.6% and the S&P 500 SPX,
it has gained 4.7%.


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