Immutep Ltd. (NASDAQ: IMMP) joins the ever-growing list of coronavirus stocks by announcing that it was granted a patent related to COVID-19 antibodies. Naturally, whenever a stock joins this list, there is serious hype and investors rushing in to get a piece of the action.
In terms of the specifics, the company announced the grant of patent #10,711,060 titled, “Antibody molecules to LAG-3 and uses thereof” by the United States Patent and Trade Mark Office.
Ultimately, this new U.S. patent is directed to embodiments of LAG525, a humanized form of Immutep’s IMP701 antibody, which is out-licensed to Novartis.
More to the point, the patent is directed to nucleic acid molecules that code for the LAG525 antibody, to expression vectors and host cells that comprise these nucleic acids, and to methods of producing the LAG525 antibody by culturing the host cells of the invention.
The application originally was filed as a second divisional application. Also, this grant follows the grant of the first divisional application, which was announced in March 2018. The patent is co-owned by Novartis and Immutep, and it will expire in March 2035.
Some quick background: This antagonist antibody (LAG-3) plays a role in controlling the signaling pathways in both effector T cells and regulatory T cells. The antibody works to both activate effector T cells and inhibit regulatory T cell function that normally prevent T cells from responding to antigen stimulation.
Immutep stock traded up about 65% to $1.82 on Wednesday, in a 52-week range of $0.53 to $3.10. The consensus price target is $5.01.
24/7 Wall St.Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
