Skip to content

Immune Pharma in licensing deal

April 20, 2017

Shares of Immune Pharmaceuticals Inc. rocketed 75% in active premarket trade Thursday, after the biopharmaceutical company announced a license agreement with Pint Pharma to commercialize Immune’s cancer treatment Ceplene in Latin America. Volume spiked to over 700,000 shares 30 minutes before the open, already more than four-times the full-day regular-session average of about 166,000 shares. As part of the agreement, Pint will make a $4 million investment in Immunue’s oncology subsidiary Cytovia. Celpene has been approved in Europe for the maintenance of first remission in patients with acute myeloid leukemia in combination with interleukin-2. “We are excited about the possibility of partnering with Pint Pharma, a market leader in Latin America with strong commercialization capabilities in the field of oncology,” said Immune Chief Executive Daniel Teper. The stock had tumbled 33% year to date through Wednesday, while the iShares Nasdaq Biotechnology ETF has climbed 8.8% and the S&P 500 has gained 4.4%.

http://fxn.ws/2ov0deL

Advertisements

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: