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Immutep (IMM)

Business description

Immutep has a pipeline of four LAG-3 related product candidates: eftilagimod alpha (IMP321) for cancer chemo-immunotherapy and immunotherapy-immunotherapy combinations, two partnered products IMP731 (GSK) and IMP701 (Novartis), as well as IMP761 for autoimmune diseases.

Stock data

Market cap.A$82m
Last closeA$0.03
High / Low (52 weeks)A$84.5 / A$35.5
Stock market listingAU
Forecast net cash (A$m)15
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual3.041.725.9
Relative *(0.5)32.114.6

* % Relative to local index

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Company news

Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2016A 1.9 (12.1) (13.7) (0.6) N/A N/A
2017A 4.1 (7.8) (8.4) (0.4) N/A N/A
2018E 3.5 (13.2) (12.9) (0.6) N/A N/A
2019E 10.9 (7.1) (6.4) (0.2) N/A N/A

Last updated on 14/06/2018

Investment summary

Immutep has three promising clinical product candidates in six ongoing clinical trials and one pre-clinical asset, all based on a versatile immunotherapy target Lymphocyte activation gene-3, LAG-3 (one partnered with GSK and a second partnered with Novartis). The lead in-house LAG-3 product, eftilagimod alpha (IMP321), is being developed initially in metastatic breast cancer in combination with chemotherapy (226-patient randomised Phase IIb study to fully recruit in Q318, 47% ORR in the 15-patient dose-escalation phase) and in melanoma in combination with the checkpoint inhibitor Keytruda (33% preliminary response rate in three dose-finding cohorts, 61% response rate from start of Keytruda monotherapy screening; currently recruiting an additional six-patients at the highest dose). Novartis and GSK are progressing clinical trials of partnered LAG-3 programmes, providing additional validation for the technology and the target. Immutep will collaborate with Merck (MSD) in a study of IMP321 plus Keytruda in lung, ovarian and head and neck cancers in H218.

Last updated on 29/06/2018

Industry outlook

Immunotherapies are among the most promising class of products for cancer and autoimmune diseases. The LAG-3 products are potentially first-in-class, each with distinct mechanisms and applications.

Last updated on 29/06/2018

Key management

Marc Voigt , CEO
Jay Campbell, Senior Director, Business Development

Company address

Level 12, 95 Pitt Street
Sydney
NSW
2000
Australia
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