Stock Alert: Immuron Jumps 51% On Research Deal With Australia's CSIRO

(RTTNews) - Shares of Australian biopharma company Immuron Ltd. (IMRN) are gaining more than 51 percent or $4.00 in Friday's morning trade at $11.75.

Friday, Immuron said it has executed a research agreement with Australia's national science agency, CSIRO, to produce a new oral therapeutic against Campylobacter and Entero-Toxigenic Escherichia coli or ETEC for clinical evaluation by the US Department of Defense. Under the terms of the deal, CSIRO has been engaged to produce a hyper-immune bovine colostrum product using vaccines developed by the Naval Medical Research Center or NMRC. The stock has traded in a range of $1.55 to $28.99 in the past 52 weeks.