What Is Happening With Innate Pharma Stock On Friday?

Innate Pharma SA IPHA stock is trading at a 52-week high as its partner AstraZeneca Plc AZN presented results from the COAST Phase 2 trial during the European Society for Medical Oncology (ESMO21) Congress 2021.
The trial included patients with unresectable, Stage 3 non-small cell lung cancer (NSCLC) who had not progressed after concurrent chemoradiation therapy (CRT).
After a median follow-up of 11.5 months, Imfinzi (durvalumab) plus oleclumab reduced the risk of disease progression or death by 56% (hazard ratio [HR] = 0.44), Imfinzi plus monalizumab by 35% (HR of 0.65) compared to Imfinzi alone.
The 10-month progression-free survival (PFS) rate was 64.8% for the durvalumab plus oleclumab combo and 72.7% for durvalumab plus monalizumab, versus 39.2% with durvalumab alone.
The confirmed objective response rate (ORR) for Imfinzi plus oleclumab over Imfinzi alone (30% vs. 18%) and for Imfinzi plus monalizumab over Imfinzi alone (36% vs. 18%).
AstraZeneca plans to start a registrational study with monalizumab plus durvalumab in the same indication.
Also, SVB Leerink maintained an Outperform on IPHA and raised its price target from $7 to $9.
Earlier this month, analyst Daina Graybosch upgraded Innate to Outperform from Market Perform with a $7 price target.
The analyst was "encouraged" and said a "strong signal" would de-risk a large opportunity for monalizumab and change the narrative around Innate.
Price Action: IPHA shares are up 66.3% at $9.56 during the market session on the last check Friday.
Check out our coverage of the European Society for Medical Oncology Congress (ESMO21).

Market News and Data brought to you by Benzinga APIs

Comments

Analyst Calendar

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga