Biotechnology company, Imugene Limited (ASX: IMU) is an emerging leader in cancer immuno-oncology which has made significant progress in the recent past. Today, the company has announced its quarterly cash flow report for the quarter ended 31 March 2019.
While providing the update on the clinical trials, the company informed that it is demonstrating strong progress in relation to its clinical trials having achieved a number of its milestones in this quarter. In March 2019, the company dosed its first patient with its HER-Vaxx cancer vaccine to treat HER-2 positive gastric cancer patients, marking an important milestone for the company in advancing its Phase II trials.
Recently in April 2019, the company presented the Phase 1b study results of its HER-Vaxx cancer vaccine at the AACR meeting and highlighted significant results of the study which include –
- 11 out of 14 evaluated patients showed clinically meaningful responses
- Those patients that were dosed with 50 micrograms showed marked increases of HER-2 specific antibody levels after vaccination
- 2 of the 3 patients dosed with 50 micrograms (mg) demonstrated greater than 40 percent reduction in tumor size from baseline to day 56 (8 weeks)
- The vaccines were well tolerated and safe with antibody responses at the highest dose of 50 mg with no significant local or systemic reactions
- Trial showed clear dose-dependence of HER-2 specific antibody production
In March 2019, the company initiated Testing of Phase II HER-Vaxx study which is currently ongoing with further evaluation in the Phase II trial, featuring two arms of either HER-Vaxx plus chemotherapy or chemotherapy alone. The active immunisation studies for KEY-Vaxx have reported positive new data findings which provided proof of concept and validation for the human PD-1 cancer vaccine.
The company is lead by an experienced management team which have significant clinical development commercialisation expertise in the sector. The company’s Scientific Advisory Board consists of world-leading oncologist, researchers and developers which includes.
Currently, the company has a strong balance sheet in place and is well funded to support its commercial and clinical milestones. As at 31 March 2019, the company had $21 million in the bank. The company is expecting to see an increased in expenditures however the management team will continue to manage this effectively.
Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. The stock is trading at a price of $0.019, up by 11.765% during the day’s trade with a market capitalisation of ~$61.37 Million as on 16 April 2019. The counter opened the day at $0.017 and reached the day’s high of $0.019 and touched a day’s low of $0.017 with a daily volume of ~ 5,796,213. In the past one year, the share price of the company decreased by 40.99% and in the last six months, it decreased by 15.00%. It had a 52-week high price of $0.039 and touched 52 weeks low of $0.015, with an average volume of ~4,108,594.
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