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Imugene's Azer-Cel Trial Opens First Australian Site; Neuren's Daybue Sales Exceed Expectations

• Imugene has initiated its Phase 1b clinical trial for azer-cel in Australia, marking a key advancement in its allogeneic CAR T-cell therapy development. • Neuren Pharmaceuticals reports Daybue sales surpassing US$250 million, triggering a US$50 million milestone payment and raising full-year income expectations. • Sigma Healthcare's shares surge following ACCC approval of its merger with Chemist Warehouse, poised to create a leading healthcare company. • Smartgroup Corporation sees its share price increase after Bell Potter reaffirmed a 'buy' rating with an improved price target of $10.00.

The S&P/ASX 200 Index is experiencing a strong close to the week, with several ASX-listed companies showing significant gains. Among them, Imugene, Neuren Pharmaceuticals, Sigma Healthcare, and Smartgroup Corporation are notable for their recent positive movements.

Imugene Advances Azer-Cel Trial in Australia

Imugene's share price has risen by 4.5% to 4.7 cents following the announcement of the first Australian site opening for its azer-cel phase 1b clinical trial. The Royal Prince Alfred Hospital in Sydney will commence patient recruitment in November. Azer-cel is Imugene's off-the-shelf allogeneic CAR T-cell therapy, representing a significant advancement in immune-oncology. This trial aims to evaluate the safety and efficacy of azer-cel in patients with specific cancers, offering a potentially more accessible and cost-effective CAR T-cell therapy option.

Neuren Pharmaceuticals Achieves Sales Milestone with Daybue

Neuren Pharmaceuticals' share price has surged by 14% to $16.38 after releasing its third-quarter update. Daybue, Neuren's key product, exceeded US$250 million in net sales for the first nine months of the year, triggering a US$50 million milestone payment. Third-quarter royalty income reached A$13.2 million, bringing the year-to-date total to A$37.5 million. The company now anticipates full-year 2024 income to be between A$216 million and A$218 million. Daybue is approved for the treatment of Rett syndrome, a rare genetic neurological disorder, and its strong sales reflect the significant unmet need in this patient population.

Sigma Healthcare Merger Approved

Sigma Healthcare's share price has increased by 7% to $2.60 after the Australian Competition and Consumer Commission (ACCC) approved its merger with Chemist Warehouse. This merger is expected to create a leading ASX-listed healthcare company, combining Sigma's pharmaceutical distribution infrastructure with Chemist Warehouse's retail expertise. Sigma's CEO, Vikesh Ramsunder, highlighted the potential for the transaction to leverage the complementary strengths of both companies.

Smartgroup Corporation Receives Positive Broker Rating

Smartgroup Corporation's share price has risen by 4% to $7.98 following a broker note from Bell Potter. The broker reaffirmed its 'buy' rating on Smartgroup's shares, increasing the price target to $10.00. Bell Potter noted that while traditional volume drivers in the auto market are cooling, Smartgroup remains a reasonable investment at current levels.
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Reference News

[1]
Why Imugene, Neuren, Sigma, and Smartgroup shares are charging higher - Motley Fool
fool.com.au · Nov 8, 2024

The S&P/ASX 200 Index rose 0.9% to 8,299.4 points. Imugene's share price increased 4.5% due to the opening of its first ...

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