Immutep’s Strategic Advances and Promising Clinical Data Drive Buy Rating

Maxim Group analyst Jason McCarthy maintained a Buy rating on Immutep yesterday and set a price target of $12.00.

Jason McCarthy has given his Buy rating due to a combination of factors related to Immutep’s recent developments and potential. The company has received positive feedback from the FDA concerning the late-stage development of its lead asset, eftilagimod alpha (efti), in combination with Keytruda for treating first-line metastatic head and neck cancer in patients with negative PD-L1 expression. This feedback is based on promising data from the Phase 2b TACTI-003 trial, which demonstrated significant therapeutic potential in an underserved patient population lacking chemo-free options.
Furthermore, under the FDA’s Project FrontRunner initiative, Immutep has two potential pathways for advancing efti, either through a randomized registrational trial or a smaller single-arm study followed by a confirmatory trial. Both paths could potentially lead to accelerated approval. Additionally, the ongoing Phase 3 TACTI-004 study, in collaboration with Merck, is being closely monitored, as it evaluates the combination of efti, chemo, and Keytruda in treating first-line metastatic non-small cell lung cancer. These strategic developments and the promising clinical data underpin McCarthy’s positive outlook on Immutep’s stock.