At time of writing, the share price of Imugene Limited [ASX:IMU] is down 9.09%, trading at $0.02.
The stock experienced a surge in price at the beginning of the year, but has been trading sideways for the past four months:
The movement in share price follows the release of the results from Imugene’s Phase 1b Trial results for its HER-Vaxx gastric (stomach) cancer vaccine.
Imugene ‘cautiously encouraged’ following results
As per the announcement today, the 14-patient study tested three dose levels (10, 30 and 50 micrograms) in combination with current chemotherapy drugs.
It notes that all dose levels showed an increased antibody response in patients.
Of the 10 patients which could be evaluated for tumour growth on Day 56, five patients showed partial response (PR) and four patients showed stable disease (SD).
Stable disease means the total tumour burden increases less than 20% or decreases less than 30%.
Interpreting these results, Imugene CEO Leslie Chong said:
‘We are cautiously encouraged by meeting all the endpoints of the study and data from the top-line results in a small sample size, in particular the five patients whose best response showed more than 30% decrease in their tumour size from baseline scans.’
The Phase 2 study will expand the number of patients being tested to 68 and will be conducted at sites across Asia, Eastern Europe and India.
Stomach cancer is the fifth leading cause of cancer, and occurs twice as often in men than in women.
While we are by no means expert immuno-oncologists at Money Morning, five patients of a possible 10 showing a significant decrease in tumour size after two months, does initially sound promising.
It will be interesting to see what investors make of the Phase 1b trial results, and if there is a corresponding movement in share value.
For Money Morning
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