Imugene’s Shares zoomed up by 17.65% on the declaration of Half-year results

Imugene Limited (ASX: IMU) has released its half-year results ended 31 December 2018. As at 31 December 2018, the group recorded a loss for half-year $3,449,097 (2017: $1,632,852). The loss in the business from the comparative period was caused by the major rise in the clinical experiments and research work managed by the company.

Financial Performance:

In July 2018 $20.1 million capital before costs were raised by the company. Its net assets on 31 December 2018 stood at $31,189,570 than $15,475,479 on 30 June 2018. The cash reserves of the company on 31 December 2018 stood at $24,053,140 than $7,822,057 on 30 June 2018.

The Net cash outflow from operating activities on 31 December 2018 stood at $2,791,701 from $916,769 in the previous corresponding period (PCP). The Net cash inflow from investing was activities by the end of HY 2019 was $ 100,067 from $ 17,495 in the PCP. The Net cash inflow from financing activities by the end of HY 2019 was $ 18,801,176 from $8,002,308 in PCP. The Cash and cash equivalents as on 31 December 2018 stood at $ 24,053,140 compared to 11,923,686 in PCP.

Dividend:

For the present fiscal period, no dividends had been paid or declared by the company.

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Business Performance:

HER-Vaxx

The company’s stage 1b/2 clinical test had been aiming toward patients who suffer from HER-2 positive gastric cancer in Asia and Eastern Europe zones.

Ohio State University/Mayo Clinic licences

On 7 June 2018, IMU notified that the company had signed a global licence to the complete body of cancer vaccine work and intellectual property, evolved by professor of The Ohio State University Wexner Medical Center and The Comprehensive Cancer Center – A.G.J Cancer Hospital and R. J.R Institute and Mayo Clinic.

B-VAXX

The stage 1b/2 test with B-Vaxx has concluded stage 1b, and stage 2 work has already begun.

PD-1 B-cell peptide cancer vaccine known as ‘KEY-Vaxx’

The pre-clinical trials and study on toxicology had already started by the company. The clinical test groundwork is going on, and the team had concluded a meeting with the FDA to converse about pre-clinical and study on toxicology.

On 23 August last year, the company notified that it had appointed Dr Mark T. Marino as its Chief Medical Officer.

Outlook:

The company’s objective for short to medium period would be aimed at the stage 1b/2 gastric cancer study design which comprises of HER-Vaxx: recruitment of phase 2 trial with gastric cancer patients, KEY-Vaxx would quicken pre-clinical studies, attain an IND ‘go’ and begin the clinical trial.

Further, the company’s securities pressed a pause button on ASX today pending further announcement.

IMU has also updated the market today that Professor U. Wiedermann who is also a co-inventor of HER-Vaxx, would give a presentation about HER-Vaxx cancer vaccine at the American Association for Cancer Research (AACR) 2019 yearly meeting planned from 29 March-3 April 2019, in Atlanta, Georgia.

About the presentation

The abstract presentation had been written by Prof Wiedermann and researchers at the Medical University of Vienna in Austria and IMU.

The abstract presentation had been entitled ‘A Phase Ib open-label multicentre study with a HER2/neu peptide vaccine administered with cisplatin and 5-fluorouracil or capecitabine chemotherapy shows safety, immunogenicity and clinical response in patients with HER2/Neu overexpressing advanced cancer of the stomach.’

Recently, the company has notified that the Phase 1 clinical trial data for its B cell peptide cancer vaccine B-Vaxx was printed in the reputable American Association for Cancer Research journal Clinical Cancer Research.

Stock Performance:

The stock of the company last traded at A$0.020 (as at 28 February 2019), up by 17.647% from its previous close.


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