AIM ImmunoTech (AIM) Stock Rockets On Grant Funding

AIM ImmunoTech AIM Stock News

AIM ImmunoTech Inc (NYSEAMERICAN: AIM) is flying in the market this morning, and for good reason. The company announced a $14.54 million grant surrounding the testing of its Ampligen in various cancers. Here’s what’s going on:

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AIM Stock Climbs On Funding News

In a press release issued early this morning, AIM ImmunoTech said that the National Cancer Institute has issued an award of $14.54 million to Roswell Park Comprehensive Cancer Center.

While the funding didn’t go directly to AIM, it is great news for the company. The funding was provided to support testing of chemokine modulation using the company’s Ampligen as an immuno-modulator. The goal here is to turn “cold tumors” or tumors that the body’s immune system and cancer therapies have a hard time finding, into “hot tumors,” or more treatable tumors.

In the release, the company said that Chemokine modulation is designed to enhance the effectiveness of common immunotherapies.

Importantly, this funding will be used in five clinical trials among patients with 3 different cancer types. These cancers are colorectal, ovarian and melanoma.

In a statement, Dr. Pawel Kalinski, lead investigator on the trials assessing Ampligen by AIM, had the following to offer:

Ampligen is a unique and highly selective immune system modulator that can be an important component of chemokine modulation therapy, one of the available strategies for converting cancers that are traditionally checkpoint-resistant into treatable, ‘hot’ tumors so that more patients will be able to benefit from some of the most commonly prescribed immunotherapies.

Why This News Is So Important

At the end of the day, the news released by AIM ImmunoTech this morning is huge. The company didn’t just announce that funding was granted for one clinical trial. Instead, five clinical trials will soon begin.

Importantly, these trials, if successful, will prove the efficacy of Ampligen across a wide range of cancers, further validating the work that the company is doing.

Moreover, if all goes well, the market opportunity here is massive. Between these three cancers, there are tens of billions of dollars up for grabs annually. Considering that AIM has a market cap of around $75 million, this opportunity is massive!

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