HomeTop MoversHere is why Immuron Limited (IMRN) stock skyrocketed on Wednesday?

Here is why Immuron Limited (IMRN) stock skyrocketed on Wednesday?

Immuron Limited (IMRN) shares gained 2.61% in after-hours on Wednesday, January 12, 2022, and closed the daily trading at $3.93. Even in the regular trading session, IMRN’s stock soared 46.18%. The stock volume remained 45.23 million shares. IMRN shares have fallen 53.29% over the last 12 months, and they have moved up 30.72% in the past week. Over the past three months, the stock has gained 3.51%, while over the past six months, it has declined 39.87%.

Let’s discuss its recent news and developments


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IMRN new research agreement

On January 12, 2022, Immuron Limited (IMRN) announced the funding of a new research agreement with the U.S Department of Defense.

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The new agreement is based on a therapeutic Bovine Immunoglobulin supplement targeting Travelers’ Diarrhea caused by Enterotoxigenic Escherichia Coli (ETEC), is aimed at testing and confirming the efficacy of a single larger dose regimen of Travelan® in a controlled human infection model (CHIM) clinical study using the enterotoxigenic Escherichia coli (ETEC) strain H10407.

In the clinical study, 60 volunteers will be enrolled from military populations and will be randomly assigned to receive either a once-daily dose of 1200 mg of Travelan or a placebo.

IMRN update on the clinical trial of Travelan

On November 15, 2021, Immuron Limited (IMRN), provided an update to its shareholders and the market on the planned clinical trial program to evaluate the efficacy of Travelan® and two other non-antibiotic OTC products in Travelers’ Diarrhea sponsored by the Uniformed Services University of the Health Sciences (USU).

USU is expecting to commence enrolling in April 2022 for the planned clinical trial and is hoping to complete enrollment in approximately 18 months. USU already has started manufacturing to produce the first batches of investigational medical products for the clinical trial program.

The trial is a randomized, double-blind, placebo-controlled multicenter clinical trial designed to evaluate the effectiveness of 3 commercially available nutraceuticals: A prebiotic (Bimuno®), a probiotic (Florastor®), and IMM-124E (Travelan®)

Conclusion

Immuron stock skyrocketed on Wednesday after the recent funding for its research agreement with the U.S Department of Defense. We can expect it to continue its momentum on Thursday as well.

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About the company

Immuron Limited is an Australian biopharmaceutical company focused on developing and commercializing orally delivered targeted polyclonal antibodies for the treatment of inflammatory mediated and infectious diseases. Travelan® is a listed medicine in Australia and Canada whereas, in the U.S., it is sold as a dietary supplement for digestive tract protection.

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