Biotech Shares Rip Following FDA Designation Announcement

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, October 15, 2024

A Massachusetts-based biotech company is stealing the show so far during Tuesday’s session after it announced that its investigational drug IMM-1-104 has received orphan drug designation from the US Food and Drug Administration in the treatment of pancreatic cancer, according to this morning’s release.

Traders were quick to snatch up shares of Immuneering Corporation (Nasdaq:IMRX) as shares of this micro cap quickly rose to $2.51/share (+25.50%) following the opening bell. This stock has popped up on our radar relatively frequently as of late, so be sure to add this one to your watchlist!

Immuneering Corp is a biopharmaceutical company. It is focused on improving patient outcomes across a spectrum of debilitating oncologic and neurologic diseases by applying deep knowledge of translational bioinformatics to every stage of the drug development process. The company's proprietary computational Disease Cancelling Technology platform enables Immuneering's drug discovery programs. The company also provides unparalleled computational biology capabilities to leading pharmaceutical and biotechnology companies.

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