Overview
- Immutep scrapped its global phase III study of efti for non-small cell lung cancer after an interim analysis found the trial was unlikely to succeed.
- Shares fell about 90% to 4 cents, cutting market value to roughly A$52 million from more than A$500 million.
- The study had enrolled over 378 of a planned ~756 patients across 25 countries and will be wound down with required patient follow-up.
- The trial tested efti alongside Merck’s Keytruda, and CEO Marc Voigt said he was very disappointed and surprised by the result.
- Immutep will continue efti programs in head and neck, soft tissue sarcoma and breast cancer, and says A$99 million in cash plus a A$29.9 million licensing payment extend its runway beyond mid-2027 as analysts issue downgrades and trading volume surges.