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Why Shares of Innate Pharma Jumped Thursday

Jim Halley, The Motley Fool
·2 min read
Why Shares of Innate Pharma Jumped Thursday

Shares of Innate Pharma (NASDAQ: IPHA) were up 8% Thursday morning after rising as much as 10.6% earlier in the day after the company said the Food and Drug Administration (FDA) had granted Fast Track Designation to a cancer therapy the company is developing with Sanofi. Innate is a clinical-stage biotech company that specializes in immunotherapies to treat cancer. The company said that the FDA had given Fast Track Designation to SAR579/IPH6101 to treat certain blood cancers.

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