ImmuPharma PLC (AIM:IMM) said it knows of no reason why its share price has rocketed recently other than its release to flag ‘groundbreaking' autoimmune research advances.
Those advances were highlighted in a statement, on 9 January, focused on a pre-clinical research discovery for its candidate P140 and the pathogenesis of autoimmune diseases.
This discovery yielded data that provides novel insights into autoimmune disease mechanisms, it said.
Through this research, Immupharma added it is making a significant step towards personalised medicine in SLE and other autoimmune diseases.
ImmuPharma attended two conferences to showcase the research and from those positive discussions have continued with several global BioPharma companies that have expressed an interest in P140 and its approach to treating autoimmune diseases.
Other than that, ImmuPharma added it is not aware of any further material commercial or operational reason for the significant share price movements.
Since the RNS of 9 January, Immupharma’s share price has risen by more than 400% and was up by a further 14% today to 6.26p.