What's with the Imugene share price today?

Investors appear to be pleased with the immuno‐oncology biotech's progress.

| More on:
Medical technicians wearing white medical coats conduct a test in a laboratory.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • The Imugene share price is up 4% today after the company released its March quarter cash flow and activities report
  • Imugene is currently conducting several clinical trials of immunotherapies that seek to activate the immune system of cancer patients to treat and kill off cancerous tumours
  • The biotech company commenced the Australian arm of its VAXINIA trial during the quarter, with Tasman Oncology Research in South Australia being the first cancer hospital to sign up 

The Imugene Limited (ASX: IMU) share price lifted 4% today after the company released its March quarter report.

Imugene shares gained half a cent and were swapping hands at 13 cents in earlier trade but have since returned to their closing price yesterday of 12.5 cents.

The S&P/ASX All Ordinaries Index (ASX: XAO) has also lost a little ground in the late afternoon and is currently trading just 0.13% higher.

Let's take a look at today's report from the ASX biotech share.

Imugene share price goes green

Imugene is a clinical-stage immuno‐oncology company developing virotherapies that seek to activate the immune system of cancer patients to treat and kill off cancerous tumours.

There was nothing new in today's report other than a few financial metrics. However, investors appear pleased with the company's financial position and the progress it has made in its trials over the period.

Cancer trials

Key developments during the quarter include the first patients being dosed in the VAXINIA and Pembrolizumab combination study. VAXINIA is a cancer-killing virus.

Patients in the intravenous (IV) and intratumoral (IT) cohorts received their first dose of the immunotherapy.

Imugene aims to recruit up to 100 patients across several trial sites in the United States and Australia for this trial. It got approval to start trials in Australia during the quarter. The first hospital involved is Tasman Oncology Research in South Australia. Imugene is opening other sites now.

Imugene also began its multicenter Phase 1 MAST trial. The trial involves patients with metastatic or advanced solid tumours who have had at least two prior lines of existing standard cancer treatment.

Imugene's preclinical laboratory and animal studies showed VAXINIA reduces the size of colon, lung, breast, ovarian and pancreatic cancer tumours.

New patent

Imugene also received a US patent until 2038 for its B-cell activating immunotherapy PD1-Vaxx.

PD1-Vaxx is in clinical development for non-small cell lung cancer (NSCLC). Imugene intends to run a clinical trial that combines PD1-Vaxx with the immune checkpoint inhibitor drug, atezolizumab.

Financials

In terms of the company's financial position, Imugene had $151.5 million in cash or equivalents at the end of the quarter.

The company spent $10.6 million net cash on operating activities. Direct research and development and staff costs accounted for 83% of the expenditure.

Spreading the word on progress

Imugene presented at several conferences during the quarter, including the prestigious J.P. Morgan Healthcare Conference, which attracts thousands of global investors every year.

The company also presented its HER-Vaxx & CF33 platforms at the ASCO Gastrointestinal Cancers Symposium, which attracts thousands of oncologists, clinical researchers, and academics.

Imugene also gave a presentation at the NWR Healthcare Conference.

In addition, the biotech company announced positive imaging data for its oncolytic virotherapy candidate, CHECKvacc, last week.

Imugene share price snapshot

The Imugene share price is down 9.3% in 2023 so far.

Its peers in the S&P/ASX 200 Health Care Index (ASX: XHJ) have gone up 8.9%.

Created with Highcharts 11.4.3Imugene PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.com.au

Should you invest $1,000 in Element 25 Limited right now?

Before you buy Element 25 Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Element 25 Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords share just rocketed 19% on BIG news

Investors are sending this ASX All Ords share flying on Monday. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Healthcare Shares

Why is this ASX All Ords stock surging 14% today?

This stock is starting the week strongly. But why? Let's find out.

Read more »

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Healthcare Shares

Guess which ASX All Ords stock is rocketing 58% on big US news

What is getting investors excited today? Let's find out.

Read more »

Cropped shot of an attractive young female scientist working on her computer in the laboratory.
Healthcare Shares

3 reasons to buy this quality ASX 200 healthcare share today

A leading expert expects this outperforming ASX 200 healthcare share will keep running hot.

Read more »

A woman reclines in a comfortable chair while she donates blood holding a pumping toy in one hand and giving the thumbs up in the other as she is attached to a medical machine to collect her blood donation.
Healthcare Shares

Brokers tip 4 ASX 200 healthcare shares to buy now

Healthcare is a defensive sector that can provide useful cover for investors when the market is volatile.

Read more »

Shot of a scientist using a computer while conducting research in a laboratory.
Healthcare Shares

How Trump's tariffs have created 'upside potential' for CSL shares

A leading expert says CSL shares are now looking ‘cheap’.

Read more »

Shot of a young scientist looking stressed out while working on a computer in a lab.
Healthcare Shares

Telix shares crash 8% on US FDA blow

This high-flying stock has been hit with some bad news.

Read more »

A man wakes up happy with a smile on his face and arms outstretched.
Healthcare Shares

ResMed shares jump 8% on strong Q3 update

It was yet another strong quarter from this high-quality company.

Read more »