Why Innate Pharma Shares Are Rising On Friday?

Innate Pharma SA IPHA stock closed almost 14% higher on Thursday after the Company disclosed two upcoming presentations scheduled at ESMO 2021 Virtual Congress.
The presentations include a late-breaker abstract on a Phase 2 trial highlighting the progression-free survival data for monalizumab combination therapy in non-small cell lung cancer (NSCLC).
Continuing yesterday's gain, Innate Pharma stock is rising in the market trading as SVB Leerink has upgraded the stock to Outperform from Market Perform.
Analyst Daina Graybosch says that a positive outcome would de-risk a vast opportunity for monalizumab and transform the narrative around the Company.
AstraZeneca Plc AZN owns full oncology rights for monalizumab, is scheduled to make the presentation on the clinical trial.
Read Next: Innate Pharma To Stop COVID-19 Trial With Avdoralimab After Mid-Stage Study Disappoints.
Price Action: IPHA stock is up 22.40% at $5.12 during the market session on the last check Friday.