Keep Your Eyes on Stock News: Unum Therapeutics Inc. (NASDAQ:UMRX)

Unum Therapeutics Inc. (NASDAQ:UMRX) stock identified change of 744.07% away from 52-week low price and recently located move of -33.06% off 52-week high price. It has market worth of $91.36M. UMRX stock has been recorded 47.21% away from 50 day moving average and 167.84% away from 200 day moving average. Moving closer, we can see that shares have been trading -9.31% off 20-day moving average.

On Aug. 11, 2020, Unum Therapeutics Inc. (NASDAQ:UMRX) a biopharmaceutical company focused on developing novel, best-in-class precision kinase inhibitors for a range of patients living with cancer and other unmet medical needs, declared financial results for the second quarter ended June 30, 2020 and provided corporate updates.

With the recent acquisition of Kiq, Unum’s focus on PLX9486 creates an exciting opportunity as we advance development of novel precision kinase inhibitors to treat patients with cancer and a range of other diseases with limited safe and effective treatment options, said Chuck Wilson, Ph.D., President and CEO of Unum. PLX9486 is a highly potent and selective KIT D816V inhibitor that has demonstrated promising clinical data, and we believe has significant potential to transform the management of serious diseases in many individuals. With PLX9486 as a cornerstone, we believe our team at Unum is poised to build a pipeline of best-in-class, precision kinase inhibitors.

Recent Program and Corporate Highlights

  • Announced completed acquisition of Kiq LLC: In July 2020, Unum announced the completed acquisition of Kiq LLC, a privately held biotechnology company focused on the discovery and development of precision kinase inhibitors. The acquisition was further financed by a private placement resulting in gross proceeds to Unum of approximately $104.4 million before deducting placement agent and other offering expenses. The private placement was led by Fairmount Funds Management LLC, with participation from Venrock Healthcare Capital Partners, BVF Partners L.P., Atlas Venture, Acorn Bioventures, Perceptive Advisor’s LLC, RTW Investments, OrbiMed, Samsara BioCapital, Logos Capital, Ally Bridge Group and Commodore Capital, as well as additional undisclosed institutional investors. Unum believes the acquisition of Kiq represents a high potential value creation opportunity for shareholders and creates a promising path forward. The Company continues to pursue strategic opportunities for its cell-based therapy programs. Unum has retained key employees across the newly integrated company and continues to attract talent to advance its precision kinase inhibitor programs.

The Healthcare sector company, Unum Therapeutics Inc. noticed change of -5.68% to $2.49 along volume of 402907 shares in recent session compared to an average volume of 2.78M shares. The stock observed return of -12.32% in 5 days trading activity. The stock was at -24.09% over one month performance. UMRX’s shares are at 440.01% for the quarter and driving a 39.11% return over the course of the past year and is now at 245.74% since this point in 2018.

The average volatility for the week at 8.77% and for month was at 11.44%. There are 30.14M shares outstanding and 26.29M shares are floated in market.

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