World News – CA – ASX Stock of the Day: Immutep (ASX: IMM) Shares Up 60% On Test News

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The Motley Fool Australia »Stock Market News» ASX Stock of the Day: Immutep (ASX: IMM) shares rise 60% on test news

Sebastian Bowen | 10. December 2020, 5:15 pm | More about: AVH IMM RMD

Immutep Ltd (ASX: IMM) share price is on fire today, rising nearly 60%. Immutep stock closed at 28 cents a share yesterday afternoon but opened at 45 cents this morning before rising to a high of 54 cents. The price of the Immutep share has cooled a bit since then, but is still trading at 60. 7% higher at 45 cents per share at the time of writing.

Today’s price action also marks a new 52-week high for the company, which hit its previous high back in February before the stock fell more than 75% after the coronavirus-induced market crash in March. Even so, today’s moves mean Immutep shares are up more than 320% from their late March lows.

So what is this company? And why is the price of Immutep shares exploding so dramatically today?

Immutep is a biopharmaceutical company founded in 2001. It is a dual-listing company listed on the ASX under the IMM ticker code and on the US Nasdaq stock exchange as Immutep ADS (NASDAQ: IMMP). .

Companies are often duplicated to attract more investor capital, especially in the US where the stock markets are by far the most capitalized in the world. It’s also not the only publicly traded stock between Australia and the US in the medical / biopharmaceutical space. Well-known ASX examples are Resmed Inc (ASX: RMD) and Avita Therapeutics Inc (ASX: AVH). .

Immutep describes itself as « a leader in the development of immunotherapy for cancer and autoimmune diseases ». . It is said that his goal is « to use and strengthen the strength of the body’s immune system through therapeutic interventions for the benefit of the patient’s health ». .

His specialty is the understanding and development of therapeutics that modulate the lymphocyte activation gene-3, or « LAG-3 » as the company calls it. LAG-3 appears to be a « cell surface molecule that plays an important role in the regulation of T cells ». . T cells are a type of white blood cell that is an essential part of the body’s immune system. They help the body identify and eliminate foreign pathogens, diseases, and other threats.

Immutep reportedly has 1 pre-clinical and 3 clinical LAG-3 product candidates in development, including two antibodies to modulate immune responses in autoimmunity and cancer. It is apparently a partnership with global pharmaceutical giants Novartis and GlaxoSmithKline.

Immutep stock price appears to be responding to some of the ASX releases the company announced this morning before the market opened.

First, Immutep reported that it had a « statistically significant » survival benefit for patients in an ongoing study. The company notes that these benefits mark the first time an antigen-presenting cell activator has an overall survival benefit in a randomized setting in patients with metastatic breast cancer known to be insensitive to immune checkpoint inhibitor therapy having.

However, the company states that the data collection has not yet been completed and a final report on the matter will not be available until mid-2021. Even so, these data appear to show that the treatment treated resulted in 7. 1 month and 9. 4 month survival benefits for 2 patient groups.

The second announcement by Immutep is that the Chinese partner company EOC Pharma is starting a new clinical phase II study for up to 152 metastatic breast cancer patients in China. The aim of this study is to evaluate the “efficacy and safety of eftilagimod alpha” in conjunction with chemotherapy treatments for these cancer patients. Eftilagimod alpha (efti), also called LAG-3Ig or IMP321, is, according to the company, a « first class activator for antigen-presenting cells (APC) ». .

EOC Pharma has reached an agreement with Immutep to « make further milestone payments to the company if efti reaches certain development milestones as well as unspecified license fees for sales and also has to finance efti’s Chinese development ». .

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Sebastian Bowen has no position in any of the stocks mentioned. Motley Fool Australia’s parent company, Motley Fool Holdings Inc. . owns shares in Avita Medical Limited. The Motley Fool Australia has Avita Medical Limited and ResMed Inc. Recommended. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). . Authorized by Bruce Jackson.

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Immutep, ASX, share, ASX: IMM, metastatic breast cancer, NASDAQ: IMMP, eftilagimod alpha

World News – CA – ASX share of the day: Immutep (ASX: IMM) shares in test news up 60%
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