Shares of biopharmaceutical company Immune Pharmaceuticals (OTCPK: IMNPQ) risen by 56% during weekend session to close the trading at $0.0250. There were 18.84 million shares of the Immune Pharmaceuticals stock traded compared to 2.47 million average daily trading volumes for the past 30 days. The IMNPQ stock had gained more than 163% in value over the past week. INPQ is currently exploring merger and acquisition opportunities, and as reported on past Thursday, it was in talks with an investment firm, news that drove the IMNPQ stock price up.
What the IMNPQ has been discussing?
Inflammatory illnesses and immunological conditions are being treated with novel therapeutic agents from the biopharmaceutical company Immune Pharmaceuticals. bertilimumab is the lead development program at Immune. It targets and lowers levels of eotaxin-1, a chemokine that is involved in antibody production and attracts eosinophils to locations of inflammation.
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Bertilimumab helps resolve associated inflammation caused by eosinophil migration by neutralizing the eotaxin-1 molecule. NanoCyclo, a topical therapy of cyclosporine has been tested in late phase preclinical studies for atopic dermatitis and psoriasis.
In a press release last Thursday, Immune Pharmaceuticals unveiled that it is in talks with British institutional investor firm United General LTD.
- The discussions are in the early stage at the moment.
- Restructuring the company with United General LTD is among the options that the IMNPQ trustee and representatives are exploring.
- The current discussions with IMNPQ are being led by Adeel Ahmed, CFO and Managing Partner of United General LTD.
- A preliminary interest for the acquisition of IMNPQ has been expressed by United General.
- Both parties have agreed to discuss all legal avenues to achieve bankruptcy exit in the preliminary conversations between legal representatives.
- An agreement on a legal path may enable IMNPQ to announce further details regarding a possible reorganization plan.
Will the discussions be decisive?
Immune Pharmaceuticals Inc. (IMNPQ) said in its press release that it can never be guaranteed that a definitive proposal will be made or accepted by the bankruptcy court or IMNPQ and that any agreement or transaction will be approved.