Shares of biopharmaceutical company Immuron (ASX:IMC) experienced a significant rise, as much as 27% to A$0.094, marking their largest intraday jump since May 9.

The surge came after Immuron received Good Manufacturing Practice clearance from the Therapeutic Goods Administration (TGA).

This clearance allows the company to release and dispatch Travelan, its oral immunotherapeutic drug utilised in the treatment of travellers' diarrhoea, to customers within this week.

According to the company, Immuron’s resolution of supply and stock outages will facilitate the anticipated growth in sales within Australia.

The clearance led the stock to reach its highest level since May 15.

On the day of the announcement, over 746,000 shares changed hands, a substantial increase compared to the 30-day average of about 198,000 shares.

However, as of the last close, the stock had declined by roughly 14% year to date.

Immuron is a biopharmaceutical company that specializes in the development and commercialisation of oral immunoglobulin therapeutics for the treatment of gut mediated diseases.