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Why the Imugene (ASX:IMU) share price is lifting 5% higher

The Imugene Limited (ASX: IMU) share price is up 5% today following an update on its PD1-Vaxx Phase 1 study. Here are the details.
The post Why the Imugene (ASX:IMU) share price is lifting 5% higher appeared first on The Motley Fool Australia. –

medical asx share price represented by doctor giving thumbs up

The Imugene Limited (ASX: IMU) share price is on the move today. This comes after the company announced an update on its Phase 1 clinical trial of its immunotherapy candidate, PD1-Vaxx.

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 early morning trade, the Imugene share price is 5% higher to 10.5 cents.

Phase 1 progress

In this morning’s release, Imugene advised it has dosed the first patient from the second band of participants in its PD1-Vaxx Phase 1 clinical trial. The patient received a stronger 50 micrograms ‘mid-dose’ level of PD1-Vaxx at the Hackensack University Medical Centre in New Jersey, United States.

Initially, patients in the first cohort were administered 10 micrograms of PD1-Vaxx as monotherapy during the first study.

Imugene noted that there would be three different levels of testing PD1-Vaxx to patients following the cohort review committee (CRC) approval. Previously, Imugene cleared the first checkpoint to increase the dosage of its immunotherapy candidate last month.

The recruitment program for the first-in-human Phase 1 clinical trial consists of people with non-small cell lung cancer.

Imugene’s primary goal for the trial is to determine safety limits and the optimal dosage. In addition, it will carefully monitor efficacy, tolerability and immune response.

Imugene managing director and CEO Leslie Chong commented:

The start of our FDA IND approved clinical trial formally in the USA, the largest pharmaceutical market globally, is a significant milestone for Imugene.

Imugene share price snapshot

The Imugene share price has performed well over the past 12 months, climbing more than 200%.

The company’s shares hit a 52-week low of 1.6 cents in March, before gradually moving higher. In November, its shares reached an all-time high of 14 cents.

On the current share price, Imugene has a market capitalisation of $475 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.

The post Why the Imugene (ASX:IMU) share price is lifting 5% higher appeared first on The Motley Fool Australia.

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