LONDON (ShareCast) - (Sharecast News) - Specialist drug discovery and development outfit ImmuPharma has said that it can't pinpoint a reason behind its share price more than quadrapling over the past month.
As announced to the market on 9 January, the company said it had made "innovative groundbreaking advancements" in its preclinical research program focused on P140, an active peptide against the autoimmune disease, Lupus SLE.

While it didn't release any data at the time, ImmuPharma said that its findings were paving the way for earlier and more accurate diagnostics, as well as identifying patients most likely to respond to P140 therapy and improving the monitoring of patients' response to the treatment.

Since that announcement, the stock has rocketed more than 380% to the 5.6p mark, trading at levels not seen since September 2022.

In recent weeks, the company said it had also attended the JP Morgan and Biotech Showcase healthcare conferences, where it had "positive discussions with a number of global biopharma companies".

In a statement on Tuesday, the firm said: "ImmuPharma is not aware of any further material commercial or operational reason for the significant share price movements, however, the company will continue to update the market on developments, both commercially and scientifically, when appropriate, over the next period."

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