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Innate Pharma (IPHA) Stock Soars on Positive Results From AstraZeneca’s Joint Study

Simon Mugo trader
Updated 20 Sep 2021

Innate Pharma SA (NASDAQ: IPHA) stock soared 108% higher after AstraZeneca announced a joint clinical study’s positive phase 2 clinical trial data.

AstraZeneca revealed that the study, which combined Innate Pharma’s monalizumab and AZN’s durvalumab, had positive interim results when used as a combined dosage.

The interim trial results were presented at the European Society for Medical Oncology Congress 2021 earlier today, triggering a wave of buying pressure on Innate Pharma’s stock.

The two drugs improved progression-free survival and objective response rate compared to AZN’s durvalumab alone in patients with unresectable, Stage III non-small cell lung cancer.

Monalizumab, Innate's lead partnered asset, is a potentially first-in-class immune checkpoint inhibitor targeting NKG2A receptors expressed on tumour infiltrating cytotoxic CD8+ T cells and NK cells.

Based on the positive interim results, AstraZeneca informed Innate Pharma that it plans to start a registrational study with monalizumab in combination with durvalumab in patients with unresectable Stage III non-small-cell lung cancer.

Innate  Pharma stock had given up most of its gains at writing but was still trading 43% higher and seemed likely to end the day with some of its initial gains.

Innate Pharma stock price.

Tradingview chart of Innate Pharma stock price 17-09-2021

Innate Pharma stock price was up 40% at writing but had registered gains as high as 108% to trade at $11.94.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading