Aussie biotech company Imugene's HER-Vaxx trial results were successful, sending its shares up 45%!
👉 Background: Imugene is a $1.2 billion Aussie biotech company that works in cancer immunotherapy. It was founded back in 2012 and its lead product is the HER-Vaxx - a cancer treatment that's injected like a vaccine.
👉 What happened: Last July, Imugene raised $95 million to support its clinical trials. And this just in: the HER-Vaxx treatment trial results were even better than expected.
👉 What else: The company's shares shot up a 'uge 45% off the back of the news. It's a big win for biotech this time... But often it's a bit of a rocky road in this industry.
💡The biotech industry is not for the faint hearted investor. Ya see, biotech stocks have the potential to produce some pretty juicy returns… But they also come with a lot of risks
💡Part of the appeal of biotech companies is the enormous health benefits for society when a clinical trial goes well. If the product is deemed safe and effective (like Imugene's) then boom! It could literally create a cure for certain types of cancer.
💡But if their product never actually makes it to market, then there ain’t no gains... But there is a whole lotta money burned. For example, Mesoblast has raised $983 million without any major success yet.
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