Immunovative (OTC: IMUN), a company that focuses on immunotherapy as a form of cancer treatment, continued climbing the charts today. The company announced earlier today that it had launched its new corporate website. It also announced its new newsletter, ImmuNews, created to educate shareholders and other interested parties about the company’s progress toward using immunotherapy in the cancer field.
Immunotherapy has been touted as a “key approach to the future of cancer treatment.” Immunovative is just one of several companies exploring ways to apply the body’s natural immune system to fight and reject cancer by enhancing or suppressing the immune response.
Immunovative has seen gains in its share price since Friday, when the company announced the formation of a Business Advisory Board and the appointment of Bruno Vanderschelden as Chairman. The company is forming the Business Advisory Board to provide management with expertise and advice on strategies for raising capital, improving capital structure, and initiate the process to graduate to a senior stock exchange.
Just two days earlier, on July 25, 2012, the company announced the appointment of Professor Emmanuel Katsanis, MD, as Chief Medical Officer, Medical Monitor and Chairman of the Scientific Advisory Board.
Since Friday, the company’s stock has increased by 70%. After closing at $0.1750 on Friday night, the stock skyrocketed to $0.2810 yesterday. It opened at $0.31 this morning and rose to $0.324 before settling at $0.29 at closing time, breaking the 52-week high achieved yesterday. The stock has gained $0.115 since Friday and 3.2% over yesterday. Before this recent run up the charts, the company’s previous 52-week high was when the stock closed at $0.1950 in September 2011.
Volume for Immunovative also skyrocketed today. Compared to its daily average volume of just over 160,000 shares, volume topped 3.3 million shares today. However, it is still short of the 52-week high, which occurred yesterday when more than 4.6 million shares were traded. No other trading days this year exceeded the one-million mark. July 29, 2012, recorded the next-highest number, with just under 760,000 shares traded.
Immunovative was virtually non-existent in the penny stock newsletters until yesterday, when its stock spiked and reached new highs. The company has been on the right path lately, with a new website and newsletter, as well as a new advisory board and staff. With immunotherapy gaining interest, the company could see some gains in the long term. It will be interesting to see how high the company’s stock will go.