Immutep (ASX:IMM) said a first-in-human phase one study evaluating IMP761, a potential therapeutic option for autoimmune diseases, met its primary endpoint, showing favorable safety and tolerability in healthy volunteers in the single ascending dose part of the study, according to a Thursday filing with the Australian bourse.

IMP761 was designed to target activated T cells at inflammation sites to reduce pathological immune responses while preserving systemic immune function, the filing said.

Early findings showed "significant and clinically relevant" pharmacodynamic activity, including the reduction of local inflammatory responses and attenuated T-cell activity compared with placebo across groups ranging from 0.9 milligrams per kilogram to 7 milligrams per kilogram, per the filing.

Shares fell nearly 4% in morning trade Thursday.