Imugene Share Price Lifts as Fresh Results Show Promise (ASX:IMU)
The Imugene Ltd [ASX:IMU] share price is trading 15% higher at time of writing. Rising on the back of new news from the biotech’s phase 2 trial. In what is now just the latest leg up for the company in the past month.
Since early November the Imugene share price has doubled. Climbing from 6 cents per share just over two weeks ago to 12 cents today.
Let’s delve into the data behind this latest find.
According to Imugene, interim analysis from their ongoing Phase 2 trial has generated some noteworthy results.
The biotech has been working on a potential treatment for gastric cancer. Experimenting with a novel protein known as HER-2, which may be linked to the disease.
What the company shared today though, was insight into their HER-Vaxx drug. Finding that patients who received this treatment, alongside chemotherapy, reported greater survival rates. With the average time recorded of 14.2 months, compared to just 8.8 months on chemo alone.
Obviously, that is a fantastic result. Giving these patients more precious time.
Plus, the committee overseeing the study has reported no safety concerns whatsoever. Suggesting that the drug is in fact not only working, but also completely safe for patient use.
Keep in mind though, this is not yet a final ruling or conclusion on HER-Vaxx’s effectiveness.
Imugene’s CEO Leslie Chong was notably pleased:
‘I am delighted to report that we have achieved this significant milestone for patients with advanced gastric cancer. I am excited that the interim analysis favoured the survival outcome for HER-Vaxx and the IDMC suggested to shorten the study by lowering the number of patients.
‘This data represents a clinical proof-of-concept for HER-Vaxx and supports our B-cell activating immunotherapy platform. I look forward to updating the market as the data matures.’
What’s next for the Imugene share price?
For shareholders the wait is now on for this phase 2 trial to come to an end. Hopefully with final results that are just as good or better than today’s.
Then, from there, Imugene will likely need to proceed with a further Phase 3 trial; the last step before any possibility of bringing the drug to market.
But, with today’s news, they are at least one step closer to that goal.
For Money Morning
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