Here's Why Innate Pharma Stock Is Rocketing Higher Today

Shares of Innate Pharma (NASDAQ: IPHA), a clinical-stage biotechnology company, are rocketing higher in response to successful clinical-trial data for an experimental cancer drug called monalizumab. Investors surprised by the results pushed the stock 107.8% higher when the market opened today. Some of the enthusiasm later fizzled and the stock's gain was reduced to 43.7% as of 12:24 p.m. EDT on Friday.

Monalizumab is currently in a phase 2 trial called Coast, in combination with Imfinzi from AstraZeneca (NASDAQ: AZN). Imfinzi is approved to treat advanced-stage non-small cell lung cancer (NSCLC) patients with tumors that haven't grown since beginning standard first-line treatment.

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Source Fool.com