The Reasons for the Immunome, Inc Stock Rally

Immunome, Inc.

Immunome, Inc (IMNM) announced today that its discovery engine has isolated potent antibodies capable of neutralizing several SARS-CoV-2 (the virus that causes COVID-19) variants, including the South African Variant (B.1.351), in pseudovirus testing. 

This effort is part of the company’s ongoing program to develop a cocktail of antibodies targeting spike and non-spike proteins that can serve as prophylaxis or treatment for COVID-19.

Immunome’s COVID-19 antibody research demonstrates that SARS-CoV-2 “super-responders” who recover from SARS-CoV-2 mount a robust immune response to a broad range of viral targets, including spike and non-spike proteins.

As part of developing their antibody cocktail (IMM-BCP-001), Immunome has identified antibodies that bind to non-overlapping regions of the spike protein, including those regions containing the critical mutational variants. Immunome’s research shows that certain of our antibodies neutralize pseudoviruses expressing the spike protein of the South African Variant (B.1.351).

Recent literature suggests that this South African Variant reduces the effectiveness of certain vaccines and antibody therapies.

From the CEO of Immunome, Inc

Purnanand Sarma, Ph.D., CEO of Immunome, said, “Our findings underscore the power of Immunome’s discovery engine to quickly identify antibodies that are broadly effective against SARS-CoV-2 and its variants. Of note, Immunome’s discovery engine has identified antibodies that bind to conserved epitopes of SARS-CoV-1 and SARS-CoV-2 spike, as well as to other non-spike targets. We believe that our comprehensive strategy could combat the negative impact of escape mutants. We are encouraged by these results and plan to continue development efforts on these antibodies.” 

From Dr. Henderson at Washington University School of Medicine

Jeffrey P Henderson, MD, Ph.D., Associate Professor of Medicine and of Molecular Microbiology at Washington University School of Medicine in St. Louis, and a member of Immunome’s COVID-19 Advisory Board, said, “Interrogating the overall immune responses in recovered COVID-19 patients allows Immunome to identify not only broadly neutralizing anti-spike antibodies but also promising non-spike antibodies that have the potential to enhance viral clearance. Broadly targeting multiple viral proteins in this way may provide alternative approaches to combat future SARS-CoV-2 variants.” 

In July 2020, Immunome was awarded a $13.3 million technology award from the U.S. Department of Defense’s Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND), in collaboration with the Defense Health Agency, to support Immunome’s COVID program. The research discussed in the press release and the article is part of that program.

About Immunome, Inc.

Immunome is a biopharmaceutical company that utilizes its proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics that are designed to change the way diseases are treated. The company’s initial focus is on developing therapeutics to treat oncology and infectious diseases, including COVID-19. Immunome’s proprietary discovery engine identifies novel therapeutic antibodies and their targets by leveraging the highly educated components of the immune system, memory B cells, from patients whose bodies have learned to fight off their disease.

For more information please visit the company’s website at: 

Prohost Observations 

Investors’ reaction to today’s news was enormous. In premarket hours the stock was trading at around $68, which was UP about $45. We are anxious to see what will happen to the stock over the next several days as well as into the future.

We aren’t saying that we underestimated the firm or the news. We love both.

Read more news at our website.

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