While the world is focused on COVID, the search for better cancer treatments continues apace.
The post Why the Immutep (ASX:IMM) share price is marching higher today appeared first on The Motley Fool Australia. –
The Immutep Ltd (ASX: IMM) share price jumped by more than 5% in morning trade to 69 cents following an update on the company’s preclinical development of a tablet to treat cancer.
The Immutep share price has since pulled back slightly and is trading for 68 cents at the time of writing.
The ASX biotech develops LAG-3-related immunotherapy treatments for cancer and autoimmune diseases.
What update did Immutep provide?
Immutep reported “some exciting early results” in its ongoing preclinical trials.
The company said it has advanced its program to develop a new generation of small molecule anti-LAG-3 therapies. Immutep has been collaborating on the project with Cardiff University since 2019, with the goal of developing an oral treatment for cancer patients.
Immutep also hopes to be able to deliver its treatment at a lower cost than today’s anti-LAG-3 antibodies.
Commenting on the progress, Immutep’s CEO Marc Voigt said:
“Never has there been a more exciting time to explore new ideas to control the interaction between LAG-3 and MHC class II molecules, following the recent validation of LAG-3 by the pharma industry. We are excited to progress this project with the world leading scientists at Cardiff University and continue our work to develop novel LAG-3 therapeutics, especially as there are already some exciting early results from our joint efforts.”
Professor Andrew Godkin of Cardiff University noted that the small molecule anti-LAG-3 treatment they are working to develop “could offer the convenience of a tablet or capsule, at a fraction of the cost of existing anti-LAG-3 candidates”.
Professor Andrea Brancale of Cardiff University added, “We think this cross-functional expertise in chemistry, biology and drug development positions the team very well for a successful collaboration.”
Immutep and Cardiff University will jointly own all intellectual property (IP) relating to products and their derivatives developed under their agreement.
Immutep share price snapshot
The past 12 months have been good for Immutep shareholders, with the ASX biotech share up 283% since this time last year. By comparison, the All Ordinaries Index (ASX: XAO) is up 20% in that same time period.
Year-to-date, the Immutep share price has continued to strongly outperform, up 64% so far in 2021.
Wondering where you should 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 the five 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
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. Bernd Struben 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.