Imugene Ltd [ASX:IMU] certainly finished 2020 with a bang.
This relatively small biotech company reached some incredible highs in late December. With its share price more than doubling in the last two months of the year.
Today, it has since eased back from those record highs, but it is still faring well. With a 5% lift in the IMU share price this morning, the stock is making waves once more.
All of which is thanks to its ongoing fight to tackle cancer.
Phase II trial ready and raring to go
Imugene noted today that it has finalised recruitment for its newest trial. A study that will examine HER-Vaxx’s effectiveness at treating gastric cancer.
This is the next pivotal step for the company, following successful interim analysis. Details of which cleared the drug of any safety concerns.
So, with everything locked in place, the trial can soon get underway. Bringing Imugene one stop closer to achieving their goals, and possibly turning a corner for cancer treatment.
As CEO Leslie Chong commented:
‘I am excited to report that we have completed recruitment in the HER-Vaxx Phase 2 clinical trial. This is an important achievement for Imugene and the many medical professionals seeking treatments for patients with advanced gastric cancer who often have very few medial options.
‘I look forward to completing the study and updating the market with clinical trial results.’
And it is indeed the results of that trial that shareholders will be eagerly anticipating.
The content of which could see Imugene’s shares spike even higher…
What’s next for Imugene?
As for now, the company’s focus will be ensuring this study progresses smoothly. After all, the results are out of their hands now.
All Imugene can do is make sure they conduct a fair and accurate trial.
For speculative investors, that means there is still time to grab some shares before any indication as to the results. However, as with most biotech stocks, this strategy is fraught with risk.
That’s why Imugene isn’t going to be a stock that suits everyone.
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For Money Morning