Key highlights

  • Immutep shares were down 7.69% at $0.024 during the 10 November 2026 trading session.
  • The IMP761 Phase I study showed statistically significant inhibition of T-cell-driven immune responses in healthy volunteers.
  • The drug was well tolerated across all seven dose levels, with no new safety signals observed to date.

Immutep Ltd (ASX:IMM) fell 7.69% to $0.024 during the 10 November 2026 trading session. The S&P/ASX 200 was higher by 1.34%, or 121.20 points, at 9,150.90 over the same session. Immutep is a clinical-stage biotechnology company focused on cancer and autoimmune diseases, and is also listed on Nasdaq. Its latest update was released on 9 November 2026 and covered a late-breaking abstract on its Phase I study of IMP761 presented at ACR Convergence 2026.

Phase I immune response data

The company reported statistically significant and exposure-dependent inhibition of T-cell-driven immune responses in healthy volunteers. Greater effects were seen at higher IMP761 exposure.

The study is randomised, placebo-controlled and double-blind, with 60 healthy volunteers. It uses a keyhole limpet haemocyanin challenge model to measure a local immune reaction in the skin.

Safety and dosing

IMP761 was well tolerated across all seven dose levels, and the pharmacokinetic profile supports a four-week dosing interval. The multiple ascending dose portion of the study is ongoing, with no new safety signals observed to date.

The data build on positive first-in-human results presented at EULAR 2026.

Sector context

Autoimmune and oncology drug developers are judged on early human data and on how the findings translate into patient studies. Share prices in the sector often move on conference presentations, as investors weigh the scale of the effect against safety. At around two and a half cents, Immutep trades in Penny Stock territory, and the broader market was higher during the session.

Risks

The results come from a Phase I study in healthy volunteers, which does not show efficacy in patients. Responses seen in volunteers may not carry over to patients with autoimmune disease or cancer.

The multiple ascending dose portion is still ongoing, and any new safety finding could change the development path.

What to watch ahead

Investors will be looking for completion of the multiple ascending dose portion, the next clinical steps for IMP761 and further updates on the company's development timelines.

Final Word

Immutep's Trading session fall came after an update on early data from the IMP761 study. Results from the ongoing dosing portion and the next patient studies will indicate how the program develops.