Immutep Limited (NASDAQ: IMMP) shares are up 13.84% this morning in the premarket session at $3.62. In the previous trading session, Immutep stock finished at $3.18, up 5.3%. A trading volume of 2.67 million shares was recorded on the IMMP stock, below the average daily trading volume of 2.97 million shares for the last 50 days. On the news of patent approval in Europe as well as Fast Track designation granted by FDA, IMMP stock has been gaining momentum.
Patent Grant In Europe:
Today, Immutep announced the European Patent Office has granted it patent number EP3317301 entitled “Combination therapies containing antibodies to LAG-3”.
- A humanized version of Immutep’s IMP701 antibody, LAG525, is claimed in the claims of EP3317301 on behalf of Novartis AG as the licensee.
- Patent claims are directed, in particular, to combinations containing LAG525 and a PD-1 antibody and to related methods of treating cancer with the combination.
- The patent will expire on 28 July 2036 and is owned jointly by Novartis AG and Immutep S.A.S.
- 3 Best Food Stocks to Buy Now
- Investing in the Gaming Industry; 3 of the Best Gaming Stocks
FDA Approval In the United States:
Additionally, Immutep announced today that eftilagimod alpha, a soluble LAG-3 protein, has received Fast Track designation from the United States Food and Drug Administration (FDA) for recurrent or metastatic HNSCC in first-line patients.
Due to its potential to address an unmet medical need, encouraging data indicates that efti by Immutep (IMMP) may be an effective treatment for recurrent or metastatic HNSCC. Fast Track status has been granted to IMMP for the development program of efti for 1st line therapy.
The developments were for what?
Immutep (IMMP) is a world-class biotechnology company that focuses on creating immunotherapeutic products to treat cancer, infectious diseases and autoimmune diseases. In addition to providing innovative treatment options for patients, IMMP strives to maximize value to shareholders.