Even if you’re not an extrovert, the thought of shutting back in as a result of a revived coronavirus concern is the furthest thing from an appealing idea. But with the rapid increase in the spread of the delta variant, these things come closer to reality. Vaccination rates have declined, and those that are choosing to forego a vaccine are leading to a huge increase in delta-variant cases and hospitalizations. Things are looking optimistic for the treatment of this illness, though, according to news from Immunome (NASDAQ:IMNM); as a result, IMNM stock is on the rise.
Immunome is a Pennsylvania-based biopharmaceutical outfit that specializes in the development of antibody therapies. The company is making waves today with news about its Covid treatment, which is specifically doing well in pre-clinical testing against the pesky variants.
A press release out of the Immunome camp is making the findings well known to investors today. Within the release, the company discusses an “antibody cocktail,” bearing the name IMM-BCP-01, which shows potent neutralizing power against the delta variant specifically. In terms of transmissions, the delta variant is among the most dangerous of coronavirus strains. In fact, it now accounts for a whopping 83% of U.S. cases, according to the Centers for Disease Control (CDC).
IMNM Stock Seeing a Boost From Covid Drug Treatment News
The news is a huge breakthrough for the treatment of this variant. As such, the company is seeking an expedited timeline to move through testing. Given its speed of transmission, the company will want to get approval for the cocktail as soon as possible.
IMNM stock is on the rise, thanks to this big revelation. Shares of IMNM are up over 19% on the day’s session. Also, trading volume is far above its daily average of 90,000; over 18 million shares are trading hands in just the first couple of hours of trading.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.