Why did the Imugene (ASX:IMU) share price jump 5% this morning?

The Imugene share price jumped by 5%, after the biotechnology company said it completed recruitment for HER-Vaxx Phase-2 gastric cancer trial.
The post Why did the Imugene (ASX:IMU) share price jump 5% this morning? appeared first on The Motley Fool Australia. –

increase in asx medical software share price represented by doctor making excited hands up gesture

Imugene Limited (ASX: IMU) shares have jumped by 5% in trading so far today after the biotechnology company announced it has completed recruitment for its HER-Vaxx Phase-2 gastric cancer trial. At the time of writing, the Imugene share price is trading at 10.5 cents after closing yesterday’s session at 10 cents.

Why did the Imugene share price rise?

The Imugene share price is on the move after the company reported the recruitment of the final patient means it can now begin the clinical trial for its gastric cancer drug, HER-Vaxx.  

This follows the recent Independent Data Monitoring Committee (IDMC) review of HER-Vaxx Phase 2 safety and efficacy data, in which it reported that preliminary data were strong and showed high a survival effect for the drug.

Due to the strong data, the IDMC provided guidance that it was appropriate to reduce the number of patients required for the Phase 2 trial.

Following this guidance, Imugene says it has reduced the number of patients for the Phase 2 trial to just 36 people.

More about HER-Vaxx and the upcoming clinical trial

According to Imugene, HER-Vaxx is designed to detect and produce an antibody against a protein called HER-2 normally found on the cell surface in patients with breast and gastric cancers.

The Phase 2 study will be conducted to test the efficacy and response of these patients showing signs of the HER-2 protein.

This trial will be conducted in countries throughout Asia, Eastern Europe and India. The countries were chosen as health providers in those countries have difficulties accessing proven drugs like Herceptin and Perjeta. These drugs are marketed by Swiss multinational Roche Holding.

The countries were also selected based on their high prevalence of gastric cancers.

Imugene Managing Director and Chief Executive Officer Leslie Chong said:

I am excited to report that we have completed recruitment in the HER-Vaxx Phase 2 clinical trial.

This is an important achievement for Imugene and the many medical professionals seeking treatments for patients with advanced gastric cancer, who often have very few medical options. 

About the Imugene share price

Imugene is a clinical stage immuno-oncology company developing a range of new immunotherapies that seek to activate the immune system of cancer patients to treat tumours.

The Imugene share price has performed strongly over the past year, returning more than 160% for shareholders.

At the current share price, the company commands a market capitalisation of roughly $474 million.

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Motley Fool contributor Eddy Sunarto 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.

The post Why did the Imugene (ASX:IMU) share price jump 5% this morning? appeared first on The Motley Fool Australia.

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