Why Are Immunome Shares Trading Higher Today
Portfolio Pulse from Vandana Singh
Immunome Inc and Morphimmune have announced a merger agreement in an all-stock transaction. The combined company will operate as Immunome and retain the same ticker symbol. A private placement investment of $125 million has also been announced, with participation from several institutional investors. The investment will be used to develop lead assets in the combined pipeline and general working capital. The merger and private placement are expected to close by the end of Q4 2023. Immunome shares are up 36.90% at $8.08 on the last check Thursday.
June 29, 2023 | 2:48 pm
News sentiment analysis
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NEUTRAL IMPACT
AbbVie had previously announced a collaboration with Immunome, which is now merging with Morphimmune.
While AbbVie has a collaboration agreement with Immunome, the news of the merger is not directly related to AbbVie and is unlikely to have a significant impact on its stock price.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Immunome is merging with Morphimmune and has secured a $125 million investment. The company's shares have risen by 36.90%.
The merger and investment announcement have likely boosted investor confidence in Immunome, leading to a significant increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100