Why the Immutep (ASX:IMM) share price is leaping 5% today

Immutep is one step closer to finishing its TACTI-002 trial.

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The Immutep Ltd (ASX: IMM) share price is gaining today following news of the company’s Two ACTive Immunotherapies (TACTI-002) trial.

Recruitment for the trial’s stage 2 of part B is now officially complete.

Right now, the Immutep share price is 55.5 cents, 4.72% higher than its previous close. Additionally, the company’s shares are flying off the shelf.

At the time of writing, more than 1.6 million Immutep shares have swapped hands today. For comparison, over the past 4 weeks, an average day saw slightly more than 1.7 million of the company’s securities traded.

Let’s take a closer look at today’s news from the biotech company.

Immutep finishes part B recruitment

The Immutep share price is in the green today on news its TACTI-002 trial’s stage 2 of its part B can begin.

The company has managed to recruit a milestone 154 non-small cell lung cancer (NSCLC) patients for its trial. The now-enrolled patients represent 84% of the participants needed to complete the trial.

Immutep is continuing to recruit patients for the trial’s part A’s expansion phase.

The trial is operating at 19 clinical sites across Australia, Europe, the United States, and the United Kingdom.

It’s evaluating the combination of Immutep’s efti with Merck and Co.‘s KEYTRUDA (pembrolizumab) in patients with second line head and neck squamous cell carcinoma or non-small cell lung cancer in first and second line.

So far, the company believes it has presented encouraging data from the trial’s first stages.

It plans to present more data from the trial at a scientific conference in late 2021 or early 2022.

Immutep share price snapshot

The Immutep share price has been performing well on the ASX lately.

It is currently 33.3% higher than it was at the start of 2021. It has also gained 192% since this time last year.

The company has a market capitalisation of around $472 million, with approximately 850 million shares outstanding.

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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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