Own Immutep shares? Here are 3 takeaways from the company’s investor update

Investors were mute to the update.

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Key points

  • Immutep shares have been heavily sold in 2022 along with the wider sector 
  • Despite this, it continues to post updates regarding its etfi candidate, including its most recent presentation at the ASCO 2022 Special Edition 
  • Immutep shares have tumbled more than 40% into the red these past 12 months 

Shares of biotech Immutep Ltd (ASX: IMM) have had a hard time this year to date, down 35% since trading resumed in January.

At the time of writing, investors are paying 30.5 cents apiece for the Immutep share price.

Earlier this month, Immutep released the slide deck of its presentation at the American Society of Clinical Oncology (ASCO) 2022 Special Edition. Let’s take a closer look.

Immutep’s biotech assets on full display

ASCO is the world’s biggest clinical cancer research conference, Immutep says. This year the company announced clinical results from Part A of its Phase II TACTI-002 trial.

The trial is investigating Immutep’s lead drug candidate, eftilagimod alpha – also known as efti – when given in combination with pembrolizumab, known as Keytruda.

“Importantly, the trial met its primary objective, delivering promising efficacy in this large indication and warranting late-stage clinical development of efti in this indication,” Immutep posted in its slide deck.

“By benchmarking our TACTI-002 results against other approved treatments, the efti and pembrolizumab combination compares favourably,” it added.

Additionally, due to the positive data from efti presented at ASCO and other conferences, Immutep has been approached for potential new investigator-initiated trials as well as other potential collaborations for efti in various indications and combinations which we are currently assessing.

Furthermore, the Phase II TACTI-002 trial has been selected for readouts at the IASLC 2022 World Conference on Lung Cancer (WCLC 2022).

The conference is taking place both in-person and online from 6-9 August 2022 in Vienna, Austria.

Despite continued updates with its etfi label, Immutep shares have tumbled more than 40% into the red these past 12 months.

Motley Fool contributor Zach Bristow 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 Scott Phillips.

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