In the past session, Immune Pharmaceuticals Inc (OTC: IMNPQ) stock closed up 101.30% at $0.099 on OTCPink. In the session, the IMNPQ stock price ranged between $0.08 and $0.1478, with 49,757,016 shares changing hands. Recent acquisition offers could be the reason lifting the IMNPQ stock, but there is no news that could drive the stock higher right now.
Who made the acquisition offer?
Immune Pharmaceuticals develops and/or manufactures pharmaceutical agents that tackle immunologic and inflammatory diseases. IMNPQ’s lead pipeline candidate is bertilimumab, an antibody that targets eotaxin-1 for the treatment of bullous pemphigoid and ulcerative colitis. It is currently testing in Phase II clinical trials.
In addition to the development of NanoCyclo, IMNPQ is also testing its use in atopic dermatitis and psoriasis in late stage preclinical testing. Furthermore, AmiKet and AmiKet Nano, which combine amitriptyline and ketamine for treating diabetic peripheral neuropathy, are also included in IMNPQ’s portfolio of pain products.
An unconditional offer has recently been extended to Immune Pharmaceuticals to take control of the publicly traded company.
- Unconditionally, United General LTD has submitted an offer to IMNPQ for the control of it.
- A large pharmaceutical company will be acquired to reverse merge once the takeover has been completed.
- As a result of the acquisition and change in control of the IMNPQ, the existing public float will remain in place, as will show in the upcoming SEC filings.
- Through SEC filings, United General intends to bring IMNPQ up to date with current status on OTC market, and then merge another pharmaceutical project into the company.
- Neither the proposal nor the legal directions that the new management team discussed with the trustee for IMNPQ permit the operation to revoke shares that are part of float of the previous operating company.
Steps involved in the acquisition offer?
Court and SEC approval are required for the offer to acquire the Immune Pharmaceuticals (IMNPQ). The acquisition process to takeover IMNPQ will begin sometime in the near future. United General intends to apply to the SEC as soon as practicable to acquire IMNPQ.