What is going on with IMMP?
Immutep (IMMP) stock jumped Thursday after the company announced that its lead product candidate, eftilagimod alpha ("efti") received Fast Track designation from the FDA. Shares of IMMP rose 11% to $3.55 per share.
What does this mean for Immutep?
Immutep's leading drug candidate, Efti, is a soluble, LAG-3 protein used to fight head and neck squamous cell carcinoma (HNSCC), a type of skin cancer. The Fast Track designation suggests that the FDA found the Phase II trial results promising. The trial evaluated Efti in combination with another drug, KEYTRUDA, and registered a response rate of approximately 44% among 28 patients.
The Fast Track designation increases the potential of expedited review and development by the FDA, and will allow Immutep to have access to more frequent meetings and communications with the Agency. Currently, Immutep is preparing for a new Phase trial that is expected to start in mid-2021.
Immutep ADS Representing 10 Ord Shs has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on IMMP!
Immutep Ltd is a globally active biotechnology company developing immunotherapy products for cancer and autoimmune diseases. Its lead product is IMP321, which involves in clinical development for the treatment of cancer indications. The company is also focused on the development of other products, which include IMP701, which is a blocking anti-LAG-3 antibody for cancer and is in Phase I of its clinical trails, and CVac, which is a personalized immunocellular therapeutic investigated for the treatment of epithelial cancer. Geographically all the business activity of the firm is functioned through the region of Australia and derives most of the revenue from the sale of the products.
