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USD520m
Research: Healthcare
Immix has shared interim data from the Phase Ib/IIa trial evaluating IMX-110 in combination with tislelizumab for solid tumors. As of the data cut-off (7 July 2023), it was found that three of four participants with metastatic colorectal cancer (mCRC) showed tumor shrinkage and one of four experienced tumor control; all patients had stage IV relapsed/refractory (r/r) mCRC and had received a median eight lines of prior therapy. Dose escalation is proceeding, and dosing of the second cohort of patients in the Phase Ib portion of this study is complete. The higher dose cohort (Cohort 3) of patients with solid tumors is currently being enrolled, aiming to establish the recommended Phase II dose. With no severe adverse events reported to date, and with the early signs of efficacy, we believe these results are encouraging for the clinical development of IMX-110. We anticipate a steady flow of data readouts throughout H223 and FY24.
Written by
Immix Biopharma |
IMX-110 interim results in colorectal cancer |
Clinical update |
Pharma and biotech |
19 July 2023 |
Share price performance
Business description
Analysts
Immix Biopharma is a research client of Edison Investment Research Limited |
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Immix has shared interim data from the Phase Ib/IIa trial evaluating IMX-110 in combination with tislelizumab for solid tumors. As of the data cut-off (7 July 2023), it was found that three of four participants with metastatic colorectal cancer (mCRC) showed tumor shrinkage and one of four experienced tumor control; all patients had stage IV relapsed/refractory (r/r) mCRC and had received a median eight lines of prior therapy. Dose escalation is proceeding, and dosing of the second cohort of patients in the Phase Ib portion of this study is complete. The higher dose cohort (Cohort 3) of patients with solid tumors is currently being enrolled, aiming to establish the recommended Phase II dose. With no severe adverse events reported to date, and with the early signs of efficacy, we believe these results are encouraging for the clinical development of IMX-110. We anticipate a steady flow of data readouts throughout H223 and FY24.
Year end |
Revenue |
PBT* |
EPS* |
DPS |
P/E |
Yield |
12/21 |
0.0 |
(1.31) |
(0.36) |
0.0 |
N/A |
N/A |
12/22 |
0.0 |
(7.70) |
(0.55) |
0.0 |
N/A |
N/A |
12/23e |
0.0 |
(10.50) |
(0.69) |
0.0 |
N/A |
N/A |
12/24e |
0.0 |
(14.01) |
(0.87) |
0.0 |
N/A |
N/A |
Note: *PBT and EPS are normalized, excluding amortization of acquired intangibles, exceptional items and share-based payments.
The Phase Ib/IIa trial (IMMINENT-01, NCT05840835) is assessing IMX-110 in combination with tislelizumab for the treatment of solid tumors. The trial is a single-arm, dose-escalation (3+3) study aiming to assess the safety and tolerability of the combination (expected n=30). The trial will determine the maximum tolerated dose and recommended Phase II dose. We believe this combination study is a positive step in the clinical development of IMX-110 since multi-drug oncology treatment regimens have the potential to demonstrate good synergy and improved efficacies.
In its update, Immix shared the results of patients with r/r mCRC, and with colorectal cancer having a projected market size of $7.6bn by 2028 (according to EvaluatePharma), we believe this could represent a sizeable opportunity if the company decides to pursue this indication. As of the data cut-off, it was found that three of four patients experienced tumor shrinkage at two months and one of four patients experienced tumor control (analogous to stable disease). This update marks completion of the dosing of the second cohort of patients in the Phase Ib portion of the study, and with no drug-related severe adverse events, the trial is now enrolling for the next higher dose cohort (Cohort 3) of patients with solid tumors, including those with r/r mCRC. The optimal dose will be used in the upcoming Phase IIa portion of the trial, which will be referred to as the IMMINENT-02 study.
While we acknowledge that the data only reflect a small patient population, we view the update as encouraging for this asset, and anticipate rolling data readouts throughout the duration of the trial. Topline results are expected by end FY24, and could be a significant catalyst for investor attention, in our view.
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Research: Investment Companies
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