After trading relatively flat the past two months, shares of Immutep (NASDAQ:IMMP) stock are skyrocketing on news from the company Thursday.
The biotechnology firm focuses on creating “novel immunotherapy treatments for cancer and autoimmune diseases,” and is based in Sydney, Australia. That said, Immutep announced that its China-based partner EOC Pharma will begin a new Phase II clinical trial in first quarter of 2021.
Overall, it will feature 152 “metastatic breast cancer” patients at 20 different locations across China. The goal is to evaluate Immutep’s top candidate, eftilagimod alpha.
That said, Marc Voigt — CEO of Immutep — had this to say about the IMMP stock news:
EOC Pharma shares our growing excitement about the potential for the combination of efti with paclitaxel chemotherapy in metastatic breast cancer. Our ongoing AIPAC study evaluating the same combination is already reporting very encouraging data, including a statistically significant survival benefit of 7.1 months in patients under 65 years of age and 9.4 months for patients with a low starting monocyte count. EOC Pharma’s new trial in China brings this innovative new treatment much closer to market for metastatic breast cancer patients.
Additionally, the past two days have been great for news regarding breast cancer treatments. On Wednesday, Greenwich LifeSciences (NASDAQ:GLSI) shared some strong results from its own breast cancer treatment. And like IMMP stock, GLSI stock took off on the news.
IMMP stock was up more than 200% on Thursday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.