ASX Healthcare Stocks Surge: Immutep Ltd Gains 16% on 'Promising' Results

2 min read | October 23, 2023 05:57 PM AEDT | By Team Kalkine Media

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ASX Healthcare Stocks Surge: Immutep Ltd Gains 16% on 'Promising' Results — Image source: shutterstock

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The ASX healthcare stocks sector is witnessing an exciting development as Immutep Ltd (ASX:IMM) shares surge by 16% in morning trade to reach 32 cents. What's behind this significant increase in the ASX All Ords biotech stock's value?

Investors are flocking to A shares today, driven by the release of new clinical data from the Tacti-002/Keynote-798 Phase II trial. This trial focuses on evaluating eftilagimod alpha (efti), a soluble LAG-3 protein and first-in-class MHC Class II agonist, in combination with the anti-PD-1 therapy Keytruda, owned by Merck & Co (NYSE:MRK). The trial targets first-line treatment for patients with previously untreated unresectable or metastatic non-small cell lung cancer (NSCLC).

According to the released data, the clinical results are indicating "promising overall survival, overall response rate, progression-free survival, and duration of response visible across all PD-L1 subgroups." This revelation sets efti in combination with Keytruda apart from other chemotherapy-free immuno-oncology combinations in the non-small cell lung cancer segment.

Marc Voigt, the CEO of the ASX All Ords stock, expressed his delight, stating, "We are extremely pleased to report these excellent overall survival results, the gold standard benchmark within oncology, in patients with metastatic non-small cell lung cancer, and believe these are among the strongest ever delivered in a sizable Phase II clinical trial like TACTI-002 evaluating a dual immuno-oncology approach. The strength of the data positions us well as we continue to plan and prepare for our Phase III trial that we expect to launch next year."

Non-small cell lung cancer accounts for approximately 80% to 85% of all lung cancers, impacting around 1.87 million people annually and ranking as the leading cause of death among all cancers. This new development in the ASX healthcare stocks sector holds the promise of better treatment options for patients facing this challenging condition

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