Why the Immutep (ASX:IMM) share price rocketed 14% today

The biotech company’s shares had a stellar day on the back of an intellectual property deal. Here are the details.
The post Why the Immutep (ASX:IMM) share price rocketed 14% today appeared first on The Motley Fool Australia. –

The Immutep Ltd (ASX: IMM) share price finished strongly today. This came after the company announced it has been granted a new Chinese patent.

At close of trading today, the biotechnology company’s shares were trading at 67 cents, up 13.56%.

Progress with Chinese plans

Investors pushed Immutep shares higher today after digesting the company’s positive update.

According to its announcement, Immutep has been granted another patent to add to its portfolio. Approved by the Chinese Patent Office, the latest addition will seek to further protect Immutep’s intellectual property.

The new patent is titled ‘Combined Preparations for the Treatment of Cancer’ (patent number ZL201480073584.3).

Immutep said the patent follows its previous securing of corresponding European, Australian, Japanese and United States patents.

The patent relates to the company’s lead immunotherapy candidate, eftilagimod alpha (efti or IMP321), which is a LAG-3 fusion protein with a chemotherapy agent.

LAG-3 is an inhibitory co-receptor that plays a vital role in the treatment of cancer and autoimmune diseases. The antigen-presenting cell activator works by controlling signalling pathways and activating T cell function. In layman’s terms, it removes the brakes to allow the immune system to kill cancer cells.

The new patent is solely owned by Immutep and is exclusively licenced to Chinese biopharmaceutical company EOC Pharma. The patent is set to expire on 19 December 2034. Based in Shanghai, EOC Pharma is focused on manufacturing and commercialising oncology products in China.

Judging by the performance of the Immutep share price, investors seem pretty excited by today’s developments.

Immutep chief scientific and chief medical officer Dr Frederic Triebel commented on the new patent, saying:

…this new patent provides protection in the important Chinese territory for a range of novel and highly relevant chemo-immunotherapies featuring efti that could be developed in the future by our partner, EOC Pharma.

EOC Pharma CEO Xiaoming Zou added:

We are very pleased that our partner, Immutep, continues to make important progress in building a robust patent estate around efti. This underpins our continued investment in this unique and promising candidate, and provides a range of future development options for our business.

About the Immutep share price

Over the past 12 months, the Immutep share price has gained almost 319%, with year-to-date performance delivering gains of around 61%.

Based on today’s price, Immutep has a market capitalisation of roughly $466 million, with approximately 696 million shares outstanding.

Learn where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be thefive best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Up then down, what’s with the Fortescue (ASX:FMG) share price?
Why did ASX tech shares like Afterpay (ASX:APT) have such a good day?
ASX miners on edge as investors ask how low can the iron ore price go?

Why the Antisense (ASX:ANP) share price finished 5% higher today
Ramsay Health Care (ASX:RHC) share price on watch after announcing major UK acquisition

The post Why the Immutep (ASX:IMM) share price rocketed 14% today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!