Though the Thursday session ended on a soft note for Wall Street, aspirational biopharmaceutical firm Immunome (US:IMNM) enjoyed a dramatic leap higher, with INMN stock gaining over 30% against the prior day’s close. Undergirding the extreme positive sentiment was a merger agreement with Morphimmune, a privately held biotechnology company focused on developing targeted oncology therapeutics.

Fundamentally, the joining of forces should bolster Immunome’s ambitions to improve patient care for those suffering from cancers and infectious diseases that lack viable therapeutic options. Specifically, Immunome leverages the information stored in memory B cells -- or a type of white blood cell of the lymphocyte subtype -- to guide discovery of first-in-class antibody therapeutics.

Scientists have discovered that “…immunological memory for many infectious diseases is acquired after a single infection and is dependent on the acquisition of two main ‘walls’ of memory; namely, long-lived plasma cells that produce protective antibodies and memory B cells that are able to respond on reinfection to pathogens and their variants,” according to a December 2019 Nature Reviews Immunology article.

Significantly, memory B cells may offer a potential solution in helping the human immune system fight cancer. According to Immunome’s investor presentation, cancer cells modify their microenvironment to facilitate fertile ground for tumor growth. Under the context of this environment, the immune system delivers a coordinated, time-dependent attack. Here, memory B cells record important attack point targets for antibodies, thus possibly empowering precision-based oncology.

'Mighty Merger'

Chardan senior research analyst Matthew Barcus, PhD, was out with a note to clients late Thursday that called the tie-up a "mighty merger." "We are optimistic about the strategic business combination as it significantly expands Immunome's capabilities in tackling cancer," he wrote.

To be sure, the deal is not without its shortcomings. Barcus noted that "although the merged company currently lacks active clinical programs, it has ambitious plans to file three INDs (Investigational New Drug applications) in the near future. C

Chardan has IMNM stock as a 'buy' with an $8 per share target.

Screener Surface

Given the promising blue-sky opportunity undergirding INMN stock, Immunome surface on Fintel’s screener for unusual stock options volume. Specifically, call volume hit 2,421 contracts against an open interest reading of 228. On average, call volume reaches only 2 contracts.

Looking to the other side of the equation, put volume mustered a comparatively soft 366 contracts against open interest of 374. Typically, put volume only reaches 5 contracts.

At last look, the put/call ratio for IMNM stock stands at 1.64, which has less-than-positive implications, since puts generally represent pessimistic sentiment. However, eagerness for Immunome in the open market is palpable, with shares skyrocketing over 136% on a year-to-date basis.

Fundamentally, the small biopharma company -- which only carries a market capitalization just north of $94 million at time of writing -- benefits from credible and lucrative partnerships. According to Immunome’s first quarter of 2023 earnings report, the enterprise announced a strategic collaboration with AbbVie (US:ABBV) to discover multiple novel oncology targets.

Finally, data from The Wall Street Journal reveals that up to a month ago, no analyst covered IMNM stock. However, in the current month, one expert assessed shares as a buy. With Immunome up nearly 140% in the past 365 days, more experts may consider the risky but enticing opportunity.