Ann: Initiation of Ph 2/3 Trial for Metastatic Breast Cancer, page-5

Could IMM share price rise 5x?

* reached out to Tanushree Jain, a healthcare analyst at Petra Capital, who analyses Immutep as part of her coverage.

Jain said Petra has a target price of $1.28 for IMM (vs current share price of $0.26).

She said that the multi-billion-dollar immunotherapy drugs targeting PD-1 work well for those who respond to them, but the question is how can you make them better and widen their reach?

She said that drug combinations are taking centre stage again, as are subcutaneous formulations to combat patent expiry.

“IMM’s efti is very well positioned in both these thematics, with 2023 a critical year for clinical data read outs and business development discussions on efti across 3 indications,” Jain said.

“Our target price for IMM is largely unchanged at $1.28 per share, and we re-iterate our Buy recommendation.”