The Life Sciences Division's Dr Navid Malik offers up his thoughts and outlook on ImmuPharma PLC (LON:IMM). Malik examines the company's flagship drug Lupuzor - a treatment for the autoimmune disease Lupus.
ImmuPharma recently updated the market on progress within its lupus drug, Lupuzor, following guidance from the FDA as part of a Type A meeting with its licensing partner Avion Pharmaceuticals As part of the FDA feedback, Avion and ImmuPharma will develop and validate a bioanalytical assay in order to confirm the unique pharmacokinetic profile of Lupuzor™, known as a PK study.
For the investment case, Malik says with a strong data file ImmuPharma has shared with Avion they be enriching the patient group for the Phase III trial, targeting the most responsive lupus patients, from data taken from the first Phase III trial. With a clear roadmap which paves the way to start the Phase III trial in H2 2021.
The strengthened balance sheet position following the £6.5m placing in September 2020, provides a cash runway to end 2023. Lupus being an attractive market and poorly met medical need, Malik believes the shares are oversold and reiterate their BUY rating and TP of 100p.