Imunon shares skyrocketed Tuesday after the biotech reported positive survival data from a mid-stage trial of its IL-12 boosting immunotherapy on top of standard of care in ovarian cancer.
The New Jersey biotech ran an open-label Phase 2 test recruiting 112 newly diagnosed, advanced ovarian cancer patients investigating its IMNN-001 plus neoadjuvant chemotherapy. In the intent-to-treat cohort, the combination offered a median 11.1-month increase in overall survival versus those given chemotherapy, according to a company release. The trial was not powered for statistical significance.
Imunon’s share $IMNN price was up more than 150% at market open Tuesday. The company’s market cap now sits at around $31 million.
Stacy LindborgIMNN-001 is made up of an IL-12 DNA plasmid vector encapsulated in a nanoparticle vehicle, which is designed to release IL-12 close to the cancer. IL-12 is a key cytokine that triggers the production of T lymphocytes and natural killer cells to help fight cancer. The candidate was developed using Imunon’s nonviral delivery system TheraPlas platform.
In the Phase 2 primary endpoint, the combo offered a three-month improvement in progression-free survival versus chemotherapy. CEO Stacy Lindborg said Imunon is planning to advance the program into a registrational Phase 3 trial “as soon as possible.” Lindborg succeeded Corinne Le Goff back in May to head up the biotech.
There are around 20,000 cases of ovarian cancer diagnosed each year, according to Imunon. Around 70% of these cases are diagnosed at the advanced stages.