Here’s why the Immutep (ASX:IMM) share price is rising on Tuesday

The company is expanding its intellectual property portfolio. We have the details

| More on:
Two scientists in a Rhythm Biosciences lab cheer while looking at results on a computer.

Image source: Getty Images

The Immutep Ltd (ASX: IMM) share price is climbing today after the biotechnology company announced it has secured a new patent.

At the time of writing, Immutep shares are edging 1.7% higher to 59.5 cents. In the last month, its shares have risen around 7%.

Immutep furthers patent protection

Investors are pushing the Immutep share price higher after digesting the company’s positive update.

Immutep has been granted another patent for its lead product candidate eftilagimod alpha to add to its growing portfolio, the company advised. Approved by the Chinese Patent Office, the latest addition will seek to further protect Immutep’s intellectual property.

It comes after the company previously secured corresponding European, Australian, Japanese, and United States patents.

The new patent is titled, ‘Use of recombinant LAG-3 or the derivatives thereof for eliciting a monocyte immune response’.

Efti is Immutep’s lead immunotherapy candidate which is a soluble LAG-3 protein and a pd-1 pathway inhibitor. LAG-3 is an inhibitory co-receptor that plays a vital role in the treatment of cancer and autoimmune diseases.

The new patent is solely owned by Immutep and licensed exclusively to Chinese biopharmaceutical company, EOC Pharma. The patent is set to expire on 3 October 2028.

Based in Shanghai, China, EOC Pharma focuses on manufacturing and commercialising oncology products in China.

Management commentary

Speaking on the news possibly pushing the Immutep share price higher, CEO Marc Voigt said:

We are making good progress building our global patent estate around our LAG-3 development pipeline, including lead candidate efti which has delivered promising clinical data in various settings.

We will continue to make these important investments and are especially pleased to be working so closely with our Chinese partner, EOC Pharma, as they expand their clinical development of efti for the Chinese market.

EOC Pharma CEO Xiaoming Zou added:

We are investing in the development of efti for the local market in China and are very pleased with the steps being taken by our partner, Immutep, to build a broad portfolio of patent families around this unique candidate. These are important and ongoing steps in the complex process of bringing innovative medicines to the market for patients.

Immutep share price summary

The Immutep share price has jumped by more than 120% over the past 12 months. Year-to-date has also been sound, with shareholders recording gains of above 40%.

Based on today’s price, Immutep has a market capitalisation of roughly $500 million.

Should you invest $1,000 in Immutep right now?

Before you consider Immutep, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Immutep wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of January 13th 2022

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. 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.

More on Healthcare Shares

Two scientists in a Rhythm Biosciences lab cheer while looking at results on a computer.
Healthcare Shares

Imugene (ASX:IMU) share price leaps 10% on new Roche deal

Key Points Imugene shares rocket on back of new supply agreement with Roche Clinical trial of PD1-Vaxx will be combined …

Read more »

Lab technician analyses a sample in a laboratory for a clinical trial
Healthcare Shares

Race Oncology (ASX:RAC) share price rises following preclinical discovery

Key points The Race Oncology share price is up as high as 2.8% today A new discovery relating to heart …

Read more »

shocked man with hands over his face with a declining graph in background representing falling CleanSpace share price
Healthcare Shares

Why the AnteoTech (ASX:ADO) share price is plummeting 23% on Friday

Key Points AnteoTech shares sink on additional request for information by the TGA The company submitted a performance report last …

Read more »

Group of Imugene scientists cheering in the lab after the company received another patent for HER-Vaxx
Healthcare Shares

Why the Imugene (ASX:IMU) share price advanced 5% on market open

Key points Imugene share price soared 5% on the back of European patent approval This is further intellectual protection for …

Read more »

A healthcare worker wearing a white coat holds his fingers to his mouth looking worried as healthcare stocks like Cochlear crash today
Earnings Results

ResMed (ASX:RMD) share price on watch after Q2 update disappoints

Key points ResMed delivered solid revenue and profit growth in the second quarter A major competitor product recall boosted demand …

Read more »

Lab worker puts hands in the air and dances around
Healthcare Shares

Here’s why the Rhythm Biosciences (ASX:RHY) share price soared 8% today

Key points The Rhythm Biosciences share price finished the day up by more than 8% after earlier jumping by 19% …

Read more »

gloved hand holding covid-19 vaccine against backdrop of australian flag
Healthcare Shares

Own CSL (ASX:CSL) shares? Here’s why the company is moving on from COVID research

CSL Limited (ASX: CSL) shares are joining the broader ASX selloff today, down 3.93% to $248.20 per share. The S&P/ASX …

Read more »

Graph showing a fall in share price.
Healthcare Shares

Why is the Cochlear (ASX:COH) share price tumbling 5% on Thursday?

Key points Cochlear is one of the worst performing ASX 200 healthcare stocks on Thursday Right now, its share price …

Read more »