Imugene Limited (ASX: IMU) is a biotechnology company with operations in America and Europe. The company is into the development of biologic therapies for the treatment of cancer while targeting the B-cell peptide vaccines. Among its key vaccines includes KEY-Vaxx (treating tumors such as lung cancer) and B-Vaxx (targeting multiple oncology indications) which is in the pre-clinical trial phase. It has got a platform technology that is unique, and it focusses on producing the body’s immune system for generating antibodies against tumours, potentially achieving a similar or greater impact than what is done by synthetically manufactured monoclonal antibody therapies.
The company today announced that Dr Tanios Bekaii-Saab from the Mayo Clinic will be delivering the Presentation on the KEY-Vaxx and B-Vaxx cancer vaccine programs at the 2019 Annual Meeting of the American Association for Cancer Research (AACR),accompanied by Professor Pravin Kaumaya, and the member of the Scientific Advisory Board of the company. The Annual Meeting will be held on March 29 to April 3, 2019 in Atlanta, Georgia.
The abstract presentations are entitled ‘Development of a novel PD-1 vaccine and while combining with two Chimeric HER-2 peptide vaccine, it provides a synergistic inhibition of tumor growth in a Balb/c model challenged with CT26/HER-2 carcinoma cell line’ and ‘A Phase I Active Immunotherapy Trial With a Combination of Two Chimeric Human Epidermal Growth Factor Receptor 2 (HER-2) B Cell Peptide Vaccine Emulsified in ISA 720 and Nor-MDP Adjuvant in Patients With Advanced Solid Tumors.’
On the financial front, the company, in its half yearly interim report for the period ended 31 December 2018, reported a loss for the half-year ended 31 December 2018 of ~$3.44 million compared to ~$1.63 million in 2017’s year half, primarily driven by the significant increase in clinical trial and research activities undertaken by the group.
On the back of a successful $20.1 million capital raise in July 2018, the net assets of the group increased to $31.18 million approximately compared with ~$15.47 million on 30 June 2018. As of 31 December 2018, the company reported cash reserves of ~$24.05 million as compared to ~$7.82 million on 30 June 2018.
On the operational front, the company’s Phase 1b/2 clinical trial is targeting patients with HER-2 positive gastric cancer. The selection of HER-2 positive gastric cancer by the company was induced since this type of cancer is not nearly as well served as the breast cancer, still it has approximately the same number of patients being HER-2 positive and is more severe than breast cancer, offering a significant market opportunity for HER-Vaxx. Asia and Eastern Europe were the regions of choice due to the prevailing factors such as higher rates of HER-2 positive gastric cancer.
On the stock-performance front, the stock of Imugene Limited last traded at $0.019 with a market capitalisation of $72.2 million. The stock has generated a YTD return of 11.11% and posted negative returns of 9.09%, and 13.04% over the last six months and three months period respectively. It has a 52-week high price of $0.040 and a 52-week low price of $0.015 with an average trading volume of ~4.12 million.