The Imugene Limited (ASX: IMU) share price is rising today after announcing the successful outcome from the Cohort Review Committee (CRC) regarding its PD1-Vaxx immunotherapy.
The post Here’s why the Imugene (ASX:IMU) share price is rising 9% today appeared first on The Motley Fool Australia. –
The Imugene Limited (ASX: IMU) share price is on the rise today. This comes after the company received a successful outcome from the Cohort Review Committee (CRC) regarding its PD1-Vaxx immunotherapy.
PD1-Vaxx is a B-cell immunotherapy designed to treat tumours by producing polyclonal antibodies that block PD-1 signalling, causing an anti-cancer effect.
During mid-afternoon trade, the Imugene shares are up 9.5% to 12 cents.
First checkpoint passed
The Imugene share price is rising deeper into positive territory following the release.
According to Imugene, the CRC cleared the pathway for phase I clinical trials to be proceed with a higher dose of PD1-Vaxx.
Following patient data review, CRC unanimously decided that the immunotherapy candidate is safe with no dose-limiting toxicities or adverse reactions.
CRC advised that Imugene can now administer a stronger 50 micrograms ‘mid-dose’ level to patients in the first-stage clinical trial.
Originally, the company provided a dose of just 10 micrograms of PD1-Vaxx to participants as monotherapy during the initial study.
Imugene noted that clinicians from Australia and the United States will also look into the underlying benefits of PD1-Vaxx. This includes understanding if patients who are treated with the PD1-Vaxx as a monotherapy will prolong survival, delay tumour progression, or reduce tumour discomfort in patients with lung cancer.
Words from management
Imugene Managing Director and CEO, Ms. Leslie Chong, hailed the positive results, saying:
We are pleased with the results that we have seen so far with no observed toxicity. Everyone supporting the study who are involved in developing this important new cancer therapy are very encouraged by the progress to date. We look forward to continuing this study and reporting to the market of its progress.
About the Imugene share price
The Imugene share price has performed relatively well over the past 12 months, up over 228%.
Its shares reached a 52-week low of 1.6 cents before surging high in late 2020, recording an all-time high of 14 cents.
Based on the current share price, the company’s market capitalisation now presides at $545 million.
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Motley Fool contributor Aaron Teboneras 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.