Immutep - LAG-3 progress in-house and via partners

Immutep has reported encouraging progress from its in-house and partnered programmes over the past few months. Interim data from the TACTI-mel combo study included a 61% response rate from the start of the Keytruda monotherapy screening period among subjects who went on to receive eftilagimod alpha (efti or IMP321) combo therapy. Partners GSK and Novartis are progressing their in-licensed LAG-3 programmes into Phase II or proof of concept studies, which increases the likelihood that these programmes will return significant value to Immutep. Our valuation has increased to A$510m or A$0.17/share (from A$439m or A$0.14/share).