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

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Immutep Ltd (ASX: IMM) shares are lifting on Thursday morning following an clinical trial update from the company. At the time of writing, the Immutep share price is trading 2% higher at 51 cents.

Below we take a look at the ASX healthcare company’s latest news.

What update did Immutep report?

The Immutep share price is gaining after the biotechnology company reported the first patient had been dosed in its clinical cancer fighting trial, INSIGHT-003.

The investigator-initiated trial is taking place at the Institute of Clinical Cancer Research IKF in Germany.

The first patient dosed has metastatic non-small cell lung carcinoma. According to the release, they received “pembrolizumab plus doublet chemotherapy (carboplatin and pemetrexed) combined with Immutep’s lead product candidate eftilagimod alpha” (efti).

The company explains that efti is a soluble LAG-3 protein, which is being explored in cancer and infectious disease treatment.

Commenting on the commencement, chief medical officer Frédéric Triebel said:

INSIGHT-003 is the first time a triple combination therapy consisting of efti plus anti-PD-1 plus chemo is administered. We are evaluating how efti might boost an approved chemotherapy and anti-PD-1 combination therapy, looking at safety and initial activity. Dosing the first patient in this trial is a significant milestone and it sets the wheels in motion for reporting first data which are currently anticipated in 2022.

Immutep expects to recruit up to 20 patients with solid tumours for the trial. They’ll receive 30 mg subcutaneous doses of efti every 2 weeks atop standard of care chemotherapy and anti-PD-1 therapy.

Immutep share price snapshot

The Immutep share price has been a stellar performer over the past 12 months, up 165%. By comparison the All Ordinaries Index (ASX: XAO) has gained 27% over that same time.

Year to date, the Immutep share price has continued to beat the benchmark, up by around 21% so far this calendar year.

Immutep reached multi-year highs on 4 June, hitting 67 cents per share.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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