IMMUNEONCO-B's stock price surged 5.15% during intraday trading on Tuesday, following a significant announcement from the company regarding its lead drug candidate.
The biopharmaceutical company announced that the first patient has been dosed in its Phase III clinical trial evaluating IMM0306 in combination with lenalidomide for the treatment of relapsed/refractory follicular lymphoma. IMM0306 is described as the world's first CD47 and CD20 dual-targeting bispecific molecule to enter clinical development.
The drug candidate works by blocking the "don't eat me" signal through inhibition of CD47-SIRPα interaction while enhancing interactions to activate immune cells. It preferentially binds to CD20 over CD47, aiming to effectively eliminate malignant B cells with minimized toxicity. The company holds global intellectual property and commercialization rights for IMM0306.