Join our daily newsletter At The Bell to receive exclusive market insights
- Imugene’s (IMU) spent the March quarter continuing the development of its cancer-killing virus, VAXINIA
- IMU recently dosed the first patients in a combination and monotherapy trial of the drug after receiving ethics approval early in the March quarter
- The company posted net negative operating cashflow of $10.6 million for the quarter but still had $151.5 million in the bank at the end of March
- This is not including a $12.6 million research and development (R&D) tax refund received by Imugene after the end of the quarter
- IMU shares are up 2 per cent to 13 cents at 10:57 am AEST
Imugene’s (IMU) spent the March quarter continuing the development of its cancer-killing virus, VAXINIA.
IMU recently dosed the first patients in a combination and a monotherapy trial of the drug after receiving ethics approval early in the March quarter. Patients were dosed in both intratumoral and intravenous cohorts, and IMU said its study was progressing on schedule.
The company posted net negative operating cashflow of $10.6 million for the quarter but still had $151.5 million in the bank at the end of March to support its ongoing clinical pipeline and operations.
The company also received its $12.6 million research and development (R&D) tax refund for the 2022 financial year in April.
IMU said its March quarter milestones were indicative of its study progression, with critical data being produced for the eventual publication of the trial results.
During the period, IMU’s Chief Financial Officer, Mike Tonroe was appointed as the Company Secretary, effective from March 2.
Following this, IMU announced positive imaging data for its oncolytic virotherapy candidate, CHECKvacc, which was presented at the AACR Annual 2023 Meeting in Orlando, Florida.
IMU shares were up 2 per cent to 13 cents at 10:57 am AEST.
