Why ImmunoPrecise Antibodies Stock Is Soaring Today

ImmunoPrecise Antibodies Ltd IPA is surging higher Thursday after the company highlighted the ability of its antibody cocktail to potentially neutralize COVID-19 variants. 

ImmunoPrecise Antibodies' antibody cocktail, TATX-03 PolyTope, was developed for the potential prevention and treatment of SARS-CoV-2.

The company said that additional evaluation of virus neutralization potency in an in vitro pseudovirus-based assay revealed that its antibody cocktail is not affected by the increasingly prevalent COVID-19 Delta variant.

'Our TATX-03 cocktail is rationally designed for broad epitope coverage relying on multiple antibodies, which have shown in pre-clinical studies to work synergistically together, to reduce the risk of mutagenic escape, and have the potential to reduce the risk of new variants,' said Dr. Ilse Roodink, chief scientific officer of ImmunoPrecise Antibodies.

Price Action: ImmunoPrecise Antibodies has traded as high as $33.34 and as low as $5.05 over a 52-week period.

At last check Thursday, the stock was up 141.5% at $13.50.