Immunome Shares Rise 16% After Acquisition of Potential Tumor Treatment from Ayala Pharmaceuticals

Dow Jones02-06

By Chris Wack

Immunome shares were up 16% to $19.56 after the company agreed to buy AL102 and related drug candidate AL101 from Ayala Pharmaceuticals.

Ayala shares more than doubled to $1.31 in recent trading.

AL102 is an experimental drug currently being evaluated in a Phase 3 trial to treat desmoid tumors - noncancerous growths in the connective tissue. The drug was granted orphan drug designation by the U.S. Food and Drug Administration in November 2023.

Immunome will pay Ayala $20 million in cash and $30 million in Immunome shares at closing, and will pay up to an additional $37.5 million in development and commercial milestone payments.

Completion of the transaction is subject to customary conditions including Ayala obtaining the requisite stockholder approval.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

February 06, 2024 10:53 ET (15:53 GMT)

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