Immune Pharmaceuticals (IMNPQ) Rockets 170% on Acquisition Buzz

Stocks of companies that are acquisition targets often record considerable gains and it was no surprise when that happened with the Immune Pharmaceuticals Inc (OTC: IMNPQ) stock on Monday.

Yesterday, Immune Pharmaceuticals stock soared by as high as 170% after the company announced that it received an unconditional acquisition offer. It is, without a doubt, significant development and seems to have excited investors considerably. The offer in question came from the United Kingdom-based United General Ltd.

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It has also been reported that once the takeover is completed, there is going to be a reverse merger with a big pharmaceutical entity. While the offer from United General is something that has generated excitement, it should also be noted that the deal can only go through once the court and the Securities and Exchange Commission provide the green light. In the meantime, investors could consider keeping a close eye on the developments surrounding the company.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.