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Shares of IMUNON Inc (NASDAQ:IMNN) are trading higher Wednesday morning, though off their session high, after the company announced a clinical milestone for its lead drug candidate, IMNN-001.
What To Know: IMUNON has officially dosed the first patient in its pivotal Phase 3 OVATION 3 study, evaluating the immunotherapy for the treatment of newly diagnosed advanced ovarian cancer.
The initiation of this late-stage trial is a key step toward potential regulatory approval and has fueled investor optimism. The OVATION 3 study will assess the safety and efficacy of IMNN-001 combined with standard-of-care chemotherapy against chemotherapy alone.
This move into Phase 3 is supported by encouraging data from the preceding Phase 2 OVATION 2 study. Those results, presented in June, demonstrated consistent and clinically meaningful improvements in overall survival and other key metrics for patients receiving IMNN-001, all with a favorable safety profile.
CEO Stacy Lindborg highlighted the company’s urgency and readiness, stating, “We have the resources in place needed to advance IMNN-001 efficiently.” With limited effective options currently available for women with advanced ovarian cancer, a successful outcome for IMNN-001 could address a significant unmet medical need.
Price Action: According to data from Benzinga Pro, IMNN shares are trading higher by 12.6% to $8.84 Wednesday morning. The stock has a 52-week high of $54.75 and a 52-week low of $5.55.
Read Also: GSK Lifts Outlook As Specialty Medicines, Vaccines Fuel Growth
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Posted In: IMNN
