Innate Pharma Surges 60% On Mid-stage Trial Results Of Lung Cancer

Shares of Innate Pharma S.A. (IPHA) are surging over 60% on Friday morning after its partner AstraZeneca Plc (AZN) presented results from the COAST Phase 2 trial during the European Society for Medical Oncology Congress 2021.

IPHA is currently trading at $9.23, up $3.48 or 60.52%, on the Nasdaq, on a volume of 47 million shares, above average volume of 1.2 million shares. The stock has traded between $3.02 and $11.86 in the year-to-date period.

The results showed monalizumab in combination with durvalumab improved progression-free survival and objective response rate compared to durvalumab alone in patients with Stage III non-small cell lung cancer.

Monalizumab, Innate's lead partnered asset, is a potentially first-in-class immune checkpoint inhibitor targeting NKG2A receptors expressed on tumor infiltrating cytotoxic CD8+ T cells and NK cells.

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