- Imugene (IMU) has ended the half-year with a $6 million loss after increasing its spending on trials and research
- The immuno-oncology company spent much of the period focussed on HER-Vaxx, a type of cancer immunotherapy
- HER-Vaxx is currently being trialed against gastric cancer and has so far returned positive interim results
- Imugene’s PD1-Vaxx also made strong advancements over the half-year, with its first patients enrolled in its phase one clinical study
- Additionally, the company spent much of the half-year working towards clinical development of CF33 — a type of cancer killing virus
- IMU ended December with $32 million worth of cash in the bank, having spent $4 million on operating activities
- Company shares ended the week down 4.76 per cent at 10 cents per share
Imugene (IMU) has ended the half-year with a $6 million loss after increasing its spending on clinical trials and research.
Comparatively, the health care stock ended the first half of the 2020 financial year with a $4.8 million loss.
The company spent much of the six-month period focussed on its cancer immunotherapy, HER-Vaxx.
HER-Vaxx is in the phase two stage of trials, in which it’s being tested against gastric cancer. The trial returned positive interim results late last year.
HER-Vaxx was shown to reduce death risk by 58.2 per cent when combined with chemotherapy.
Meanwhile, Imugene’s PD1-Vaxx also made strong advancements over the half-year, enrolling its first patients in a phase one clinical study.
PDI-Vaxx is a B-cell immunotherapy, peptide cancer vaccine designed to
treat tumours such as lung cancer.
Since the end of 1H FY21, Imugene has finalised enrolment and moved onto dosing the second group of patients as part of the PDI-Vaxx stage one trial.
In addition to the work on these two treatments, Imugene also spent the half-year working towards clinical development of CF33 — a type of cancer killing virus.
The healthcare stock is hoping to begin dosing the first patient, as part of the phase one clinical trial of CF33, by July 2021.
In the meantime, IMU ended the first half with $32 million worth of cash in the bank, having spent $4 million on operating activities.
Shares in Imugene ended Friday down 4.76 per cent at 10 cents per share.