Immutep craters 93% to record low after ceasing Phase III study of lung cancer drug

Immutep

13/03/2026 04:10

Updates

** Shares of Immutep IMM.AX drop as much as 92.9% to a lifetime low of A$0.028

** Stock logs its largest intraday pct drop

** IMM trading 88.1% lower at 4.7 Australian cents a share, as of 0400 GMT

** Australian biotechnology firm says an independent data monitoring committee for its TACTI-004 Phase III study for treatment of non-small cell lung cancer has recommended discontinuation of trial

** Says recommendation following a planned interim futility analysis

** Adds enrolment in the study to be halted, co to implement an orderly wind-down of the study

** More than 379.3 million shares change hands, over 142 times the 30-day average

** Jefferies downgrades IMM to "hold" from "buy", cuts PT to 4 cents from A$2.20

** Brokerage calls it a "surprising outcome", says its valuation was based on one product, the efficacy of which is now in question

** Stock down 89.2% YTD

 (Reporting by Nikita Maria Jino and Sameer Manekar in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com))