Prima BioMed has changed its name to Immutep Ltd ADR (NASDAQ:IMMP) following shareholder approval in November. It reported an encouraging 33% preliminary response rate from the first two cohorts of the TACTI-mel trial of IMP321 (eftilagimod alpha) in combination with Keytruda in melanoma patients who had not achieved a meaningful therapeutic benefit from Keytruda monotherapy. The 33% response rate is double the rate we would have anticipated had these patients continued on Keytruda alone, and suggests that IMP321 is working as expected to boost immune responses when combined with immune checkpoint inhibitors (ICIs). The final cohort is expected to be fully recruited by Q417, and efficacy data from all three cohorts are expected in Q218. Our valuation is unchanged at A$272m (12c per share).
Encouraging preliminary response rate in TACTI-mel
The TACTI-mel trial is using IMP321 (eftilagimod alpha, Immutep’s LAG-3-based antigen presenting cell activator) to enhance efficacy in melanoma patients who have had a suboptimal initial response to the PD1 immune checkpoint inhibitor Keytruda. A poster presentation to the Society for Immunotherapy of Cancer (SITC) conference reported that 58% (7/12) of subjects in cohorts 1 and 2 have experienced a reduction in tumour burden, including 33% (4/12) achieving a tumour response (at least a 50% reduction in tumour burden). The combination has been well tolerated so far. Recruitment in the third and highest dose cohort is expected to complete in Q417, so we expect efficacy data from all three cohorts in Q218.
To read the entire report Please click on the pdf File Below: