Immune Pharmaceuticals Inc (NASDAQ: IMNP) is flying early on in the market this morning, and for good reason. The company announced that it has entered into a late-stage partnership, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about:
- The new partnership;
- what we’re seeing from IMNP as a result; and
- what we’ll be watching for with regard to the stock ahead.
IMNP Climbs On Late-Stage Partnership Announcement
As mentioned above, Immune Pharmaceuticals is flying early on in the market this morning after announcing that it has entered into a new partnership. In a press release issued early this morning, the comapny announced a development and manufacturing agreement with WuXi Biologics. The new partnership surrounds the development and manufacuting of bertilimumab, the first-in-class anti-eotaxin-1 monoclonal antibody.
In the release, IMNP reminded investors that bertilimumab is designed to block the protein eotaxin-1. This protein is responsible for causing inflammation ina significant number of diseases. Recently, the company completed a phase 2a trial assessing the treatment in patients with moderate-to-extensive bullous pemphigoid (BP). Also, the company plans on launching a pivotal study in BP in 2019 and is continuing to enroll subjects in an ongoing phase 2 trial assessing the candidate as a treatment for ulcerative colitis.
The new partnership between the companies will combine the leading expertise in immunology research and development at IMNP with the expertise in biologics late-stage development and commercial manufacturing brought to the table by WuXi. In a statement, Tony Fiorino, MD, PhD, Chief Medical and Operating Officer at IMNP, had the following to offer:
This is an extremely important milestone for the bertilimumab program, as we have secured clinical manufacturing not only for our planned pivotal phase 2/3 trial in bullous pemphigoid, but for future trials in ulcerative colitis, asthma and other indications… We are pleased to be working with WuXi Biologics on the scale-up and production of bertilimumab, given its extensive experience in the manufacture of monoclonal antibodies and its vast production capacity. We believe WuXi Biologics is well-positioned to meet foreseeable bertilimumab production demand. We have hit the ground running with WuXi Biologics and have already begun working on the technology transfer.
The above statement was followed up by Dr. Chris Chen, CEO at WuXi. Here’s what he had to offer:
We are excited that our partner Immune Pharmaceuticals switched from a global CMO leader to WuXi Biologics to bring this innovative first-in-class therapy to patients suffering from immuno-inflammatory diseases… Our integrated development and manufacturing service across both biologics drug substance and fill finish will expedite development of this important late-stage clinical program. In addition, our robust and premier-quality global supply chain in four countries including China, Ireland, Singapore and the United States will ensure that every patient who needs this critical medicine will have access.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of IMNP, the news proved to be overwhelmingly positive. After all, the new partnership will help the company bring its flagship candidate over the line and hopefully to regulatory approval both in the United States and China. So, it’s no surprise to see that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:25) IMNP is trading at $0.20 after a gain of $0.013 per share or 7.12% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on IMNP. In particualr, we’re interested in following the collaboration surrounding bertilimumab as the treatment has shown incredible promise in previous studies. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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