STOCKS NEWS EUROPE-ImmuPharma sinks after trial data

Shares in Lupus specialist ImmuPharma (IMM.L) sink nearly 20 percent after the company reports interim results for its lead drug Lupuzor.

The trial met its key target but failed to meet statistical significance on one measurement, after the company cut recruitment back when it changed the design of the trial.

"Although the outcomes were promising, statistical significance was not achieved in the primary end point, which necessitates us to change our forecasts with regards to the phasing of milestone payments," Panmure Gordon says.

However, the broker says it remains a buyer of ImmuPharma's stock as it sees a good probability of success in the late stage trials of Lupuzor.

"If you compromise a certain bit on the size of the study you've got to accept that your statistical analysis as a result of that will also be compromised," says Nomura Code analyst Gary Waanders.

"The fact is the clinical data and the statistical data everywhere else is all good so I think it should only be seen positively," he adds.

To see ImmuPharma's statement please click on [ID:nRnsS7400C]

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