Purple Biotech (PPBT) Stock Skyrockets ~100% on Breakthrough News – What’s Driving the Surge?
Purple Biotech’s stock took Wall Street by surprise on Wednesday, skyrocketing by roughly 100% in a single trading daym.investing.com. The price surged from the mere $0.60 range on Tuesday to over $1.20 at the peak of Wednesday’s sessionstockstotrade.com. It eventually settled to close at $1.06, up 81.8% from the prior day’s close of $0.58finviz.com. This explosive move came on unusually heavy trading volume, indicating keen investor interest in the company’s latest news. Even after the jump, PPBT remains a penny stock – to put it in context, it is still down about 74% over the past year and over 90% below its 52-week high of $13.95finviz.com. The rally, however, lifted shares off all-time lows and back above the crucial $1 threshold, at least for now. The catalyst for this massive gain was a pre-market announcement on Oct. 29 that Purple Biotech achieved a key manufacturing milestone for its lead preclinical drug candidate. The company reported it can now produce IM1240 – a complex “tri-specific” antibody designed to attack cancer on multiple fronts – at commercially viable yield and high purityglobenewswire.com. In simple terms, Purple proved it can manufacture this cutting-edge immunotherapy at scale, a critical step toward bringing it into
