Why the Immutep (ASX:IMM) share price jumped 9% higher today

Here's why the Immutep Ltd (ASX:IMM) share price is storming higher on Wednesday….

| More on:
hand on touch screen lit up by a share price chart moving higher

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In morning trade the Immutep Ltd (ASX: IMM) share price is storming higher following the release of an announcement.

At the time of writing, the biotechnology company's shares are up 9% to 42.5 cents.

What did Immutep announce?

This morning the developer of novel immunotherapy treatments for cancer and autoimmune disease announced that it has received a patent entitled "Combined Preparations for the Treatment of Cancer or Infection" by the United States Patent & Trade Mark Office.

According to the release, this US patent follows the grant of the corresponding European patent announced in November 2018.

The claims of the patent protect Immutep's intellectual property relating to combined preparations comprising its lead active immunotherapy candidate eftilagimod alpha (efti) and a PD-1 pathway inhibitor.

Management advised that the expiry date of the patent is 8 January 2036.

Why is this significant?

The company believes this new patent is particularly significant as it covers the combination of active ingredients evaluated in the company's phase II TACTI-002 and phase I TACTI-mel trials.

Management also believes it further highlights the ongoing and important steps being taken by the company to protect its lead product candidate in a range of novel and commercially relevant combination formats, in both immuno-oncology (IO) and chemo-IO settings.

Immutep's CEO, Marc Voigt, commented: "We are very pleased that this United States patent has been granted covering our lead product candidate, efti, in combination with key anti-PD-1 therapies. This is particularly so in view of the highly encouraging data we have seen from both our TACTI (Two Active Immunotherapies) trials which evaluate efti in combination with pembrolizumab. Furthermore, this new patent and our corresponding patents and patent applications in other key markets continue to underpin our ongoing investment in clinical development."

This sentiment was echoed by Immutep's Chief Scientific Officer and Chief Medical Officer, Dr. Frédéric Triebel.

He said: "This United States patent grant represents another important milestone for the Company, and along with the clinical data we have seen from our trials, supports our long held view that combining efti with an anti-PD-1 checkpoint inhibitor should result in a very meaningful therapeutic benefit to cancer patients."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »

Two happy scientists analysing test results.
Healthcare Shares

Mesoblast share price rockets 36% on breaking FDA news

ASX investors are sending the Mesoblast share price soaring following promising FDA news.

Read more »