Purple Biotech Shares Surge Over 90% After Tri-Specific Antibody Manufacturing Breakthrough

Purple Biotech Ltd. (PPBT) has achieved a major manufacturing breakthrough for its tri-specific antibody IM1240, resulting in a significant surge in its stock price, with gains reported between 72% and 102% across various trading platforms. IM1240, developed from the CAPTN-3 platform, targets the tumor-associated antigen 5T4, CD3 on T cells, and NKG2A on NK and CD8⁺ T cells, aiming to enhance immune activation specifically within the tumor microenvironment while reducing off-tumor effects. The company has developed a high-efficiency manufacturing and purification process that delivers commercially viable yields and high purity, overcoming previous challenges in producing tri-specific antibodies. This milestone positions the CAPTN-3 platform competitively for future development and supports Purple Biotech's plan to submit an Investigational New Drug (IND) application to the FDA in 2026 to initiate first-in-human clinical trials. Despite recent stock price gains, Purple Biotech faces compliance challenges with Nasdaq's minimum bid price requirements but has until 2026 to address these issues. The technological advances promise a safer and more effective approach to cancer immunotherapy by engaging both innate and adaptive immune responses selectively within tumors.