Why Immatics Stock Is Soaring Today

Shares of Immatics (NASDAQ: IMTX) were trading higher on Wednesday after the biopharmaceutical company announced positive data from a phase 1 clinical trial for several of its pipeline candidates. As of 3:25 p.m. EDT, Immatics' stock was up by 25.9%, after soaring by as much as 58.4% earlier in the day.

Immatics focuses on innovative cancer treatments. Its adoptive cell therapy seeks to modify a patient's own T cells (white blood cells that bind to and instruct virus-infected cells to self-destruct) to better target and destroy cancer cells.

In a phase 1 study, Immatics administered several of its ACTengine pipeline candidates to 16 cancer patients whose previous treatments had been ineffective. The goal of the trial was to assess the safety, tolerability, and initial signs of clinical and biological efficacy of these therapies.

Source Fool.com