Purple Biotech Shares Soar 92% On Breakthrough For Experimental Cancer Drug

• Purple said that it has achieved a commercially viable yield for IM1240, positioning the program competitively for future development.
• The company now plans to make an Investigational New Drug (IND) submission to the U.S. Food and Drug Administration in 2026, paving the way for its first-in-human clinical trials.
   

NASDAQ-listed shares of Purple Biotech Ltd. (PPBT) soared 92% on Wednesday morning after the company achieved a manufacturing milestone for its experimental cancer drug IM1240.

The company said that it has achieved a commercially viable yield for IM1240, positioning the program competitively for future development.

IM1240 is a tri-specific antibody from the CAPTN-3 preclinical platform targeting the antigen 5T4, which is expressed in a variety of solid tumors and is associated with advanced disease, increased invasiveness, and poor clinical outcomes. The company now plans to make an Investigational New Drug (IND) submission to the U.S. Food and Drug Administration in 2026, paving the way for its first-in-human clinical trials.

“Drawing on my decades of experience in antibody manufacturing, producing a tri-specific protein such as IM1240 at high yield and purity was perceived as a significant challenge-one that I’m pleased to have successfully mastered.” 
Michael Schickler, Head of Clinical and Regulatory Affairs, Purple Biotech

Window To Maintain Listing Standards 

Earlier this month, Purple Biotech received a letter from the Nasdaq, notifying the company that it is not in compliance with the minimum bid price requirement for continued listing on the bourse. 

The company now has until April 14, 2026, to regain compliance with the minimum bid price requirement.

What Is Retail Thinking?

On Stocktwits, retail sentiment around PPBT stock jumped from ‘neutral’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘low’ to ‘extremely high’ levels.

A Stocktwits user now expects a dilution, provided the company needs money.

Another, however, believes that the stock will yield real profits in time.

PPBT stock is down by 76% this year and by about 68% over the past 12 months.

Read also: Eli Lilly Partners With Walmart To Expand Access To Popular Weight-loss Drug

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on