Immutep Shares Drop as Investors Face Trial Setback, Lawsuit Date and Nasdaq Alert
Immutep Ltd’s Nasdaq ADRs dropped around 5% Wednesday afternoon, missing out on gains in the biotech sector. New investor-law firm notices added to investor focus on lawsuits over the failed lung-cancer trial. The ADRs last changed hands at $0.4778, off a low of $0.4606. The SPDR S&P Biotech ETF climbed about 3.5%. Immutep is under pressure as it deals with a stock price below $1 on Nasdaq, shareholder litigation notices and efforts to recover trust following the halt of its TACTI-004 Phase III trial in first-line non-small cell lung cancer in March. Nasdaq’s regular U.S. market hours are 9:30 a.m. to 4 p.m. Eastern, according to Nasdaq.