Immutep

AU: IMM

Market CapAU$118m

Last Close AU$0.04

Immutep has a pipeline of four LAG-3 related product candidates: eftilagimod alpha (IMP321) for cancer chemo-immunotherapy and immunotherapy-immunotherapy combinations, two partnered products IMP731 (GSK) and IMP701 (Novartis), as well as IMP761 for autoimmune diseases.

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Investment summary

Immutep has three promising candidates in clinical trials and one preclinical asset, based on Lymphocyte activation gene-3, LAG-3 (two partnered with GSK and Novartis, respectively). Lead in-house product, eftilagimod alpha (efti), is being developed in metastatic breast cancer combined with chemo (227-patient randomised Phase IIb fully recruited in June 2019, topline PFS data due Q120) and in melanoma in combination with Keytruda (61% exploratory response rate from start of Keytruda monotherapy screening in three dose-finding cohorts, 3/6 (50%) responders in an additional cohort). Novartis and GSK are progressing clinical trials of partnered LAG-3 programmes: GSK has announced ulcerative colitis as lead indication; Novartis has five ongoing Phase I/II studies with LAG525.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 4.1 (7.8) (8.4) (0.4) N/A N/A
2018A 6.9 (11.4) (10.9) (0.5) N/A N/A
2019E 10.9 (7.6) (6.9) (0.2) N/A N/A
2020E 2.8 (15.3) (14.6) (0.4) N/A N/A
Industry outlook

Immunotherapies are among the most promising class of products for cancer and autoimmune diseases. The LAG-3 products are potentially first-in-class, each with distinct mechanisms and applications.

Last updated on 27/09/2018
Content on Immutep
Immutep – AIPAC fully recruited, results due Q120
Healthcare | ADR Update | 2 July 2019
Research feature image - Immutep - 02072019 - JPG
Immutep – AIPAC fully recruited, results due Q120
Healthcare | Update | 2 July 2019
Research feature image - Immutep - 02072019 - JPG
Immutep – Encouraging results for efti and IMP761
Healthcare | ADR Update | 8 April 2019
Research feature image - Immutep - 02072019 - JPG
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Share price graph
Balance sheet
Forecast net cash (A$m) 18.4
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 16.7 25.0 45.8
Relative* 15.9 10.1 40.3
52-week high/low A$84.5/A$35.5
*% relative to local index
Key management
Marc Voigt CEO
Jay Campbell Senior Director, Business Development