Regal Hedge Fund Faces Setback as Immutep Halts Lung Cancer Drug Trials

Regal, a Sydney-based hedge fund, encountered a significant challenge following Immutep's decision to cease trials of its lung cancer drug. Bloomberg posted on X that the Australian biotech firm, supported by Regal, saw a substantial reduction in its market value, erasing most of its A$582 million ($412 million) valuation. The halt in trials has impacted investor confidence, leading to a sharp decline in the company's stock value.