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Immutep Spikes on Positive Breast Cancer Treatment Data

Immutep is currently conducting a Phase 2b study of its metastatic breast cancer treatment candidate.
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Shares of biotech company Immutep  (IMMP) - Get Immutep Ltd. Report nearly tripled in value Thursday after the company announced positive results from a trial for its treatment for metastatic breast cancer. 

The Australian company reported encouraging first overall survival follow up data from its ongoing Phase 2b study of its leading product candidate, eftilagimod alpha in combination with another chemotherapy treatment. 

"Improving Overall Survival is a key endpoint when evaluating the benefit of new anticancer drugs," said the study's principal investigator, Hans Wildiers. "Efti is a new drug targeting the immune system in an innovative way and has the potential to improve outcomes in HER2-negative/hormone receptor positive metastatic breast cancer patients."

Immutep shares jumped 157% to $5.52 in afternoon trading on Thursday. 

The company says its drug offered a 7.1 month survival benefit with a median of nearly 22 months of survival with the drug, vs. 15 months for patients treated with the placebo. 

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The company expects to report final overall survival data from the ongoing trail in mid-2021. 

Immutep plans on presenting the data from this study next week at the San Antonio Breast Cancer Symposium. 

On Wednesday, shares of Greenwich LifeSciences GLSI ended up almost 1,000% after the clinical-stage biopharmaceutical company announced positive news from the Phase 2b trial of its breast cancer treatment candidate GP2. 

The company announced the results of the final five-year follow-up on disease-free survival curves evaluating the reduction of breast cancer recurrences and "a potent immune response" in women.

They plan to move to Phase 3 trials in 2021, according to Greenwich LifeSciences CEO Snehal Patel. 

Greenwich shares jumped another 50% Thursday afternoon.