On Friday, April 26, ImmunoPrecise Antibodies’ subsidiary U-Protein Express disclosed that it’s obtained an exclusive license from Stanford University. The license allows U-Protein Express to manufacture and sell Wnt surrogate Fc. On the news, IPATF stock soared, up nearly 15% at the time of writing on the OTC market.
Here’s what we know.
U-Protein Express Obtains License from Stanford, IPATF Stock Soars
U-Protein Express is a wholly-owned subsidiary of ImmunoPrecise Antibodies (TSXV:IPA) (OTCQB:IPATF), which is a therapeutic antibody discovery company based in Victoria, British Columbia, Canada. Today, the subsidiary said Stanford University has granted it an exclusive license to manufacture and sell Wnt surrogate FC. For those who don’t know, Wnt surrogate FC is a novel protein and substitute for the Wnt protein.
Receiving an exclusive license from Stanford University is significant as is. After all, it’s one of the top universities in the world. But there are other reasons the market is reacting the way it is, sending IPATF stock into the double-digits.
First, the nature of the license makes sure ImmunoPrecise Antibodies is the only manufacturer and supplier of the novel protein to the marketplace. Second, there’s a high demand for Wnt surrogate FC right now as it can help grow organoids. So, being the single global supplier of the protein, it’s likely the Canadian company will be on a lot of people’s radar.
IPATF Stock and IPA Stock
As mentioned, IPATF stock jumped on the news of U-Protein Express obtaining an exclusive license from Stanford. As of 2:32 PM EDT, according to Yahoo Finance, IPATF stock is trading at $0.5950, which puts it up 12.54% on the OTC market. Earlier in the trading day, IPATF stock was up around 14%.
On the TSXV, as of 1:49 PM EDT, IPA stock is up 6.67%, trading at $0.80.
What do you think of the news? With ImmunoPrecise Antibodies being the single manufacturer of Wnt surrogate FC, good things are sure to come to IPATF and IPA stock.
Let us know in the comments below.
Featured image: DepositPhotos © VitalikRadko