Today, biopharma company ImmunoPrecise (NASDAQ:IPA) is soaring. Indeed, shares of IPA stock have soared 120% at the time of writing on extremely heavy volume. More than 88 million shares of this small cap company have traded hands, relative to the average daily volume of around 50,000 shares.
This move comes amid some big news for the company. ImmunoPrecise today reported some intriguing results from its Covid-19 therapy. Indeed, these results suggest the company’s antibody cocktail shows efficacy among animal trials. These trials suggest the antibody cocktail “is not affected by the rapidly spreading Delta variant,” something that’s become an increasing concern for this economic recovery.
Accordingly, ImmunoPrecise has quickly become a stock that investors are watching. Let’s dive into a few things to know about this little-known biopharma play.
What Investors Need to Know About IPA Stock
- ImmunoPrecise is a “full-service, therapeutic antibody discovery company offering species agnostic advancements.”
- This company’s focus is on finding the next generation of antibody discoveries.
- Given the coronavirus pandemic, ImmunoPrecise has become a company with an offering that could potentially provide life-saving therapies counteracting Covid-19.
- The company’s recent clinical trials showed strong efficacy in reducing viral load among hamsters injected with the coronavirus.
- Additionally, the company noted “reactive screening of the individual antibodies of [the company’s antibody cocktail] revealed difference susceptibility of the lead components toward the Delta variant, with the majority showing maintained binding.”
- These results have boosted ImmunoPrecise’s market capitalization to $225 million at the time of writing.
- Currently, shares of IPA stock trade around $12 per share, with a 52-week range of $4.80 – $33.34.
On the date of publication, Chris MacDonald 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.