Immutep (IMMP) shares fell 79% in premarket trading Friday after the company said that an independent data monitoring committee has recommended the discontinuation of a phase 3 trial evaluating eftilagimod alfa as a first line treatment for non-small cell lung cancer.

"Based on its review of the available safety and efficacy data, the IDMC recommended that the trial be discontinued for futility," Immutep said.

The company said enrolment in the study would be halted and the trial would be wound down.

Following the discontinuation, Immutep said it now expects its cash runway to extend beyond its previous guidance of Q2 2027.