Clinical studies could provide market moving news for Immuron in 2017
Immuron Limited (ASX: IMC), a biopharmaceutical group focused on the treatment of gut mediated diseases has advised that the company’s IMM-124E Phase II clinical trial for the treatment of NASH (Non-Alcoholic Steatohepatitis) has successfully randomized its 134th subject, and that recruitment has now officially concluded.
By way of background, IMC is working towards the development and commercialisation of oral immunotherapeutics for the treatment of many gut mediated diseases. The company has a unique and safe technology platform that enables a shorter development therapeutic cycle.
IMC currently markets and sells Travelan® for the prevention of travellers’ diarrhea. However, the blue sky lies in its lead product candidate IMM-124E, which is in Phase 2 clinical trials for NASH and ASH. Management expects these products, together with the Company’s other pre-clinical immunotherapy pipeline products targeting immune-related diseases currently under development, will address a sizeable target market.
Share price experiences substantial rerating in March/April
While no doubt acknowledging the company’s achievements to date, investors appear to have an eye to the future as the company’s share price increased 50% between March and April. Having hit a high of 45 cents earlier this week, it has only retraced slightly, suggesting a significant degree of confidence in the company’s ability to deliver throughout 2017.
Of course it should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
With regard to IMC’s IMM-124E phase II clinical trials for the treatment of NASH, the company had reached the recruitment goal of 120 randomized subjects earlier in the year. However, due to strong demand, the company allowed for subjects already in the screening process to complete screening and randomize into the study if eligible.
Commenting on what lies ahead for the remainder of the year, IMC’s Senior VP Head of Medical, Dr. Dan Peres commented, “The company is now scheduled for an interim analysis to be released towards the beginning of the third quarter of calendar year 2017, followed by topline results by the end of the year”.
Early feedback from global Principal Investigators (PIs) has been encouraging and IMC has already begun to establish a small working group to design the next phase of its clinical study.
Over the past 2 years, the company has made significant progress in strengthening the value of its NASH program, and expects to meet several other milestones by the end of 2017, some of which could significantly strengthen the company’s outlook.
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