Immunomedics, Inc. (NASDAQ:IMMU) has announced that it would be delivering two oral presentations, as well as two poster presentations, at the 2016 American Association for Cancer Research Annual Meeting. Two abstracts, from the company’s research, have been selected by the conference and have been classified under the Clinical Trials Mini-symposium session. The annual meeting is scheduled to be held from April 16 to 20, 2016.
One of the abstracts is from a phase-2 study of Immunomedics lead ADC, IMMU-132. It should be noted here that the drug has already been awarded the breakthrough therapy designation, by the FDA. The drug is targeted at patients of triple negative breast cancer, who have not recovered, despite two prior therapies. The second abstract was from a phase-2 study of another ADC, IMMU-130, which is aimed at patients of colorectal cancer. Since IMMU-132 is also undergoing several studies, it is also expected that Immunomedics would use the platform to update the public on their developments.
Recently, Immunomedics terminated a phase-3 study of PANCRIT-1, aimed at testing the drug with yttrium-90-labeled clivatuzumab tetraxetan. The trial population included patients suffering from pancreatic cancer, which had been treated twice, but with little improvement. It was important for the study that one of the two therapies included gemcitabine-containing regimen. The trial has been terminated on safety concerns, after Data and Safety Monitoring Board revealed that an interim analysis has revealed a less than 50% chance of survival. The data showed that the trial would be unable to improve the overall survival rates, amongst patients.
The CEO of Immunomedics, Cynthia L. Sullivan, stated that she was disappointed that the trial was unable to continue as planned, as the company had hoped that it would be able to fulfill certain medical needs in pancreatic cancer. She further reaffirmed that the company would continue to develop products to target such unmet needs.
Immunomedics, Inc. (NASDAQ:IMMU) closed at a share price of $2.66, after gaining2.31% in terms of share value and having a trade volume of 1.02 million.