BMY - Immutep - LAG3 Checkpoint Receives First FDA Approval; Positive For This LAG3 Pure Play

• FDA approval of Bristol Myers Opdualag/relatlimab anti-LAG3 carries positive implications for LAG3 pure-play Immutep’s entire pipeline.
• From an anti-LAG3 perspective, the FDA approval is directly positive for Immutep's recently unveiled oral, small molecule anti-LAG3 program and its out-licensed anti-LAG3 program to Novartis.
• Like anti-PD1 (Keytruda, Opvido) & anti-CLTA4 (Yervoy), LAG3 may be a key checkpoint in oncology. Yet, unlike PD1/CTLA4, LAG3 is unique in that both its activation & inhibition kills cancer.
• This relatively unknown pure-play on the emerging checkpoint LAG3 (Lymphocyte Activating Gene-3) has collaborations with Novartis, Merck, Pfizer, Merck KGaA, GlaxoSmithKline, EOC Pharma, Labcorp, etc.
• As its clinical data continues to strengthen, like it consistently has over the past few years, Immutep is seemingly well situated for strategic deals or its potential acquisition.

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