Why the Immutep (ASX:IMM) share price is marching higher today

While the world is focused on COVID, the search for better cancer treatments continues apace.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published June 8, 2021 1:23 pm AEST

The Immutep Ltd (ASX: IMM) share price jumped by more than 5% in morning trade to 69 cents following an update on the company's preclinical development of a tablet to treat cancer.

The Immutep share price has since pulled back slightly and is trading for 68 cents at the time of writing.

The ASX biotech develops LAG-3-related immunotherapy treatments for cancer and autoimmune diseases.

Young doctor raising arms in air with hands in fists celebrating a new development. — Image source: Getty Images

What update did Immutep provide?

Immutep reported "some exciting early results" in its ongoing preclinical trials.

The company said it has advanced its program to develop a new generation of small molecule anti-LAG-3 therapies. Immutep has been collaborating on the project with Cardiff University since 2019, with the goal of developing an oral treatment for cancer patients.

Immutep also hopes to be able to deliver its treatment at a lower cost than today's anti-LAG-3 antibodies.

Commenting on the progress, Immutep's CEO Marc Voigt said:

"Never has there been a more exciting time to explore new ideas to control the interaction between LAG-3 and MHC class II molecules, following the recent validation of LAG-3 by the pharma industry. We are excited to progress this project with the world leading scientists at Cardiff University and continue our work to develop novel LAG-3 therapeutics, especially as there are already some exciting early results from our joint efforts."

Professor Andrew Godkin of Cardiff University noted that the small molecule anti-LAG-3 treatment they are working to develop "could offer the convenience of a tablet or capsule, at a fraction of the cost of existing anti-LAG-3 candidates".

Professor Andrea Brancale of Cardiff University added, "We think this cross-functional expertise in chemistry, biology and drug development positions the team very well for a successful collaboration."

Immutep and Cardiff University will jointly own all intellectual property (IP) relating to products and their derivatives developed under their agreement.

Immutep share price snapshot

The past 12 months have been good for Immutep shareholders, with the ASX biotech share up 283% since this time last year. By comparison, the All Ordinaries Index (ASX: XAO) is up 20% in that same time period.

Year-to-date, the Immutep share price has continued to strongly outperform, up 64% so far in 2021.

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