Purple Biotech (PPBT) said Thursday that a non-GLP toxicology study in non-human primates supports advancing its IM1240 drug candidate toward a first-in-human clinical study in 2027.

IM1240 demonstrated anti-tumor activity across PD-1- and chemotherapy-resistant patient-derived tumor samples in head and neck, bladder, and lung cancers, the company said.

The company said that preclinical data from the study demonstrated IM1240 showing an 8-fold longer half-life, 16-fold greater exposure, and a markedly improved cytokine-release safety profile compared to non-capped variants.

Purple Biotech shares were down 19% in Thursday's premarket activity.