Why Innate Pharma Shares Are Soaring Today

Shares of Innate Pharma (NASDAQ:IPHA) were soaring 19.5% higher as of 11:10 a.m. EST on Thursday. The big gain came after the company announced earlier in the day that the European Medicines Agency (EMA) has accepted the regulatory filing for Lumoxiti, a drug to treat hairy-cell leukemia (HCL). 

Lumoxiti won Food and Drug Administration approval in September 2018 as a treatment for relapsed or refractory HCL. The EMA's acceptance of the Marketing Authorization Application for the drug is a major step for Innate in potentially expanding the global market for its flagship product. If it wins EMA approval, Lumoxiti would become the first new relapsed or refractory HCL treatment in more than two decades.

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Source Fool.com