Stocks of the Hour: Immutep, Liontown Resources & Calidus Resources

Company News

by Lauren Evans

Biotech company Immutep (ASX:IMM) has reported a positive response rate in its phase 2 clinical trial with 1st line non-small cell lung cancer (NSCLC) patients. A combination of its lead product efti (eftilagimod alpha) plus pembro (pembrolizumab) has shown favourable anti-tumour activity. The company was presenting at the ASCO conference, a very significant event for an ASX listed company, as it convenes cancer researchers from all over the world and provides a forum for the results that can affect practice, change the direction of future research, or have an impact on policy. The last ASX biotech to present at ASCO was Viralytics, which was taken over by Merck for $500 million in 2018. Shares are trading flat at $0.43. Immutep will be running a webinar tomorrow to discuss results. Click here to register. 

Liontown Resources (ASX:LTR) has executed an offtake agreement with electric vehicle manufacturer Tesla for the supply of spodumene concentrate at the Kathleen Valley lithium project. This is the second agreement secured for Kathleen Valley following the offtake agreement with LG Energy Solutions. Liontown said it continues to receive strong interest from a range of parties for the remaining third offtake. Shares are trading 3.2 per cent lower at $1.23.

Calidus Resources’ (ASX:CAI) 50 per cent owned Pirra Lithium has expanded the mapped lithium pegmatites at Spear Hill in WA. The company said the results have almost doubled the known strike length to 4.3 kilometres. The latest results come from further rock-chip sampling and mapping by Pirra Lithium. Shares in Calidus Resources are trading 0.6 per cent lower at $0.82.

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