Cancer-killing researcher and clinical stage immunology facilitator Imugene [ASX:IMU] announced today that it has seen the first patients dosed with vaxinia, in Phase 1 MAST (metastatic advanced solid tumours).
The City of Hope-developed oncolytic virus has so far shown it can shrink colon, lung, breast, ovarian, and pancreatic cancer tumours in laboratory animal hosts.
Imugene fell nearly 4% for its share valuation this morning, trading at 13 cents a share at time of writing.
Over the last 52-week cycle, the biotech stock has dropped 48%, and is down more than 10% so far in 2023:
www.TradingView.com
Imugene begins human trials for vaxinia-pembrolizumab compatibility
The cancer immunology developer gave its update from Sydney, where it provided a very quick update in which it announced it has overseen the first of its trial patients dosed with vaxinia, for Phase 1 MAST.
The trial first began in May 2022, and is anticipated to run for around 24 months, while being funded from existing budgets and resources.
The study will evaluate the safety of cancer-killing virus CF33-nHIS (vaxinia) in combination with pembrolizumab, a humanised antibody used in various immunotherapy cancer treatments.
Phase 1 MAST trials begun by delivering low dose of vaxinia to patients with advanced solid tumours and who’ve had at least two prior lines of standard care treatment.
The study aims to recruit up to 100 patients across approximately 10 trial sites in the US and Australia.
The oncolytic virus, developed by the City of Hope, has been shown to shrink colon, lung, breast, ovarian, and pancreatic cancer tumours in preclinical laboratory and animal models.
Imugene CEO Leslie Chong provided the following statement:
‘Having continued through the monotherapy dose escalation with safety and early positive signals, we’re eager to see VAXINIA used in combination with the well-known drug Pembrolizumab and see the potential benefit this could bring to patients. We’re setting an excellent pace with the trial and look forward to data and results in due course.’
The first dose of the experimental anticancer drug was injected into the first human just under a year ago.
Laboratory studies have suggested that vaxinia could be even more effective than prior generations of oncolytic viruses, thanks to its its ability to reduce tumour sizes and has generated much anticipation in the medical industry as a unique and highly promising therapy practice.
The Chairman of Surgery at City of Hope has described vaxinia as a virus that can target all types of cancers, while being more potent than prior viruses, and more selective for cancer cells, ignoring normal tissue.
No doubt, both IMU shareholders and the medical community will be eagerly anticipating the results of vaxinia’s combination trial, especially as the results should help provide a timeline for when the product may be due to hit the market and tap commercial use (and, of course, profit).
Earlier in the week, Imugene released its half yearly report, in which it claimed $4.78 million in research and development tax incentives yet took a loss of $17.4 million throughout the year.
The group has $161.9 million in cash and equivalents to fund further research and development for its experimental medical drug and therapy pipeline.
Callum’s bargain stocks
Looking aside from the biotech industry for a moment, you’d also be aware that the war in Ukraine, inflation, and continually rising rates — not to mention recent floods — have challenged businesses in recent months.
Many companies have had to lay off workers and use slimming down strategies to weather the storm.
Thing is, while it’s bad news now, it’s not forever. And it’s in times like these that some real ASX stock bargains can emerge — if you know where to look.
Our small caps expert Callum Newman has done the hard work for you.
He’s found five of what he calls ‘the best stocks to own in Australia right now’.
Click here to discover Callum’s top five Aussie bargain stocks.
Regards,
Mahlia Stewart,
For Money Morning
