Immutep (ASX:IMM) share price slips amid trial safety update

Initial study results look promising but investors don’t appear too excited…

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The Immutep Ltd (ASX: IMM) share price is in the red this morning, down 1.05% at the time of writing to 47 cents.

The biotech company is developing LAG-3 related immunotherapy treatments for patients with cancer and autoimmune disease.

Below, we take a look at the latest clinical study update from the ASX medical share.

What study update was announced?

The Immutep share price is falling after the company reported good safety results from the first 5 patients in its INSIGHT-003 study.

INSIGHT-003, according to the release, is an investigator-initiated study conducted by the Institute of Clinical Cancer Research IKF at Krankenhaus Nordwest in Frankfurt, Germany.

The study is evaluating the triple combination therapy of eftilagimod alpha (efti) given alongside chemotherapy and anti-PD-1 therapy.

Immutep said it had not observed any additional safety signals in the study from the first 5 patients given the triple therapy.

However, the news does not appear to have excited investors, judging by the Immutep share price this morning.

Commenting on the results, lead investigator Salah-Eddin Al-Batran of the Institute of Clinical Cancer Research IKF said:

The INSIGHT-003 study has commenced well. We are very pleased with the safety of the triple combination so far and all patients are still participating in the study. This is important as it is the first time patients have received a triple combination therapy with efti. Patient recruitment is advancing in line with our projections.

INSIGHT-003 expects to recruit up to 20 patients with a range of solid tumours. The trial is meant to assess the safety, tolerability, and initial efficacy of the triple combination treatment.

Additionally, Immutep intends to release further results from the ongoing study in 2022 — results shareholders will be watching closely.

Immutep share price snapshot

The Immutep share price is up 69% over the past year, and 12% this year to date. By comparison, the All Ordinaries Index (ASX: XAO) is up around 10% over both those timeframes.

Over the past month, Immutep shares are down around 20%.

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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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