Stock Track | ImmuneOnco Stock Soars 22% on Promising Clinical Trial for SLE Drug

Stock Track10-25

Shares of ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd. (HKG:1541) skyrocketed 21.79% on Thursday, as the pharmaceutical company announced a significant milestone in the clinical trial of its systemic lupus erythematosus (SLE) treatment, IMM0306.

According to a filing with the Hong Kong Stock Exchange, ImmuneOnco revealed that the first patient has been administered with a dose of IMM0306 in the Phase I-B clinical trial. The drug is designed to target and bind to two specific proteins, CD47 and CD20, found on cancerous B cells, with a stronger affinity for CD20, potentially enhancing its effectiveness as a cancer treatment.

ImmuneOnco's shares closed at HKD 7.25, up HKD 1.0 or 16.19% from the previous day's close, reflecting the market's enthusiasm for the company's promising clinical trial progress.

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