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Immune Pharma's bertilimumab an Orphan Drug in U.S. for rare skin blister disorder; shares down 43% ahead of reverse split and possible capital raise

Published 08/20/2018, 12:56 PM
Updated 08/20/2018, 12:56 PM
© Reuters.  Immune Pharma's bertilimumab an Orphan Drug in U.S. for rare skin blister disorder; shares down 43% ahead of reverse split and possible capital raise
  • Nano cap Immune Pharmaceuticals (OTCQB:IMNP -43.3%) is down on almost a 7x surge in volume despite announcing Orphan Drug status in the U.S. for bertilimumab for bullous pemphigoid ( BP (LON:BP)), a rare skin disorder characterized by large fluid-filled blisters in areas that frequently flex such as the lower abdomen or armpits.
  • Several weeks ago, the company postponed its Special Meeting of Stockholders scheduled for Wednesday, August 22, to allow it time to appeal Nasdaq's decision to delist its shares due to its low bid price. The purpose of the meeting was to vote on a reverse stock split.
  • At the end of June, it had $1.5M in cash and equivalents while operations consumed $6.8 in H1.
  • Management says it plans to launch a Phase 2/3 clinical assessing bertilimumab in BP next year so a capital raise will be necessary.
  • Now read: Biocept continues slide, down 7%


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