Shares of Immunome Inc. IMNM,
advanced 212.6% toward highs on Thursday, to accelerate the pace of all pre-market winners listed on major US stock exchanges, after the biopharmaceutical company said it had isolated potent antibodies capable of neutralizing several of SARS-CoV-2, including the South African variant (B.1.351) in pseudovirus testing. The trading volume was about 506,600 shares, compared to the all-day average of about 117,600 shares. The company has been working to develop an antibody cocktail (IMM-BCP-001) that can act as a treatment against COVID-19. “Our findings underscore the power of Immunome’s discovery engine 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.” Shares, which were made public on October 2, 2020, have increased 129.6% to date through Wednesday, while the iShares Nasdaq Biotechnology IBB ETF
has advanced 10.6% and the S&P 500 SPX,
has gained 4.7%.