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Immutep Limited (ASX:IMM)

ALERT: Price-sensitive ASX Announcement for IMM
Current share price for IMM : $0.021 -0.029 (-58%)+
Announcement
Release
31 Aug 2026 9:12AM
Price at Release
$0.050
Full Release
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Summary
Immutep Limited’s Appendix 4E and 2026 Annual Report for the financial year ended 30 June 2026 present audited full year statutory accounts and describe a difficult but strategically active year for the ASX- and Nasdaq-listed biotechnology company focused on LAG-3 related immunotherapies for cancer and autoimmune disease. FY2026 included the discontinuation of the pivotal TACTI-004 Phase III first-line NSCLC trial after an interim futility analysis, prompting trial wind-down, root cause analysis and cost reduction measures, but the company continued to report encouraging data from other programs including INSIGHT-003 in lung cancer, EFTISARC-NEO in soft tissue sarcoma, TACTI-003 in head and neck cancer, AIPAC-003 in metastatic breast cancer and the Phase I IMP761 autoimmune program, while also signing a strategic licensing agreement with Dr Reddy’s. Financially, Immutep reported revenue from ordinary activities of A$14.56 million, other income of A$9.61 million, total revenue and other income of A$24.17 million, and a loss after tax attributable to owners of A$79.30 million versus A$61.43 million in FY2025, with the larger loss mainly due to higher R&D and intellectual property expenses including clinical trial costs and a A$3.1 million non-cash impairment of efti-related intellectual property. Cash, cash equivalents and term deposits at 30 June 2026 were approximately A$68.9 million, net tangible assets were 4.1 cents per share, no dividend was paid, operating cash outflow was A$55.46 million, and the balance sheet showed net assets of A$61.53 million; the directors stated the group remains a going concern with cash expected to support operations well into the first half of calendar 2028.
Key Points
  • Appendix 4E relates to the year ended 30 June 2026 and was signed on 31 August 2026.
  • The report is audited and includes the 2026 full year statutory accounts.
  • Immutep is a clinical-stage biotechnology company developing LAG-3 related immunotherapies for cancer and autoimmune disease.
  • The major operational setback in FY2026 was the discontinuation of the TACTI-004 Phase III first-line non-small cell lung cancer trial after an interim futility analysis in March 2026.
  • Immutep commenced a root cause analysis and orderly wind-down of TACTI-004 following the IDMC recommendation.
  • Other clinical programs continued to generate encouraging data, including INSIGHT-003, EFTISARC-NEO, TACTI-003, AIPAC-003 and the Phase I IMP761 study.
  • IMP761, the company’s LAG-3 agonist antibody for autoimmune disease, reported favourable safety, tolerability and pharmacodynamic activity in Phase I.
  • The FDA granted Orphan Drug Designation to efti for soft tissue sarcoma in April 2026.
  • In January 2026 Immutep received a US$20 million upfront payment under its strategic licensing agreement with Dr Reddy’s Laboratories and repaid US$10 million in June 2026 after TACTI-004 was discontinued.
  • Revenue from ordinary activities for FY2026 was A$14,556,923, compared with not applicable in FY2025.
  • Other income fell 7.0% to A$9,612,077 from A$10,331,373.
  • Total revenue and other income rose to A$24,169,000 from A$10,331,373, mainly due to recognised licensing revenue from Dr Reddy’s.
  • Loss after tax attributable to owners increased 29.1% to A$79,304,563 from A$61,434,165.
  • Research and development and intellectual property expenses increased to A$91.95 million from A$61.41 million, mainly due to higher clinical trial costs and a A$3.1 million impairment charge.
  • Corporate administrative expenses increased to A$9.58 million from A$8.64 million.
  • Interest income decreased to A$3.01 million from A$5.29 million due to lower cash and investment balances.
  • The group recorded a A$1.87 million net loss on derivative financial instruments and a A$1.23 million net gain on foreign exchange in profit or loss.
  • Other comprehensive income included a A$5.50 million foreign currency translation loss, compared with a A$14.38 million gain in FY2025.
  • Cash, cash equivalents and term deposits at 30 June 2026 totalled about A$68.9 million, comprising A$63.7 million cash and cash equivalents and A$5.2 million term deposits.
  • Net tangible asset backing per ordinary security was 4.1 cents, down from 9.3 cents in the previous corresponding period.
  • Net assets at 30 June 2026 were A$61.53 million compared with A$143.64 million at 30 June 2025.
  • Operating cash outflow for FY2026 was A$55.46 million.
  • No dividend was paid or declared for FY2026 or FY2025.
  • The company expects losses in FY2027 to be significantly lower than in FY2026 and says current cash resources should fund operations well into the first half of calendar 2028.
  • The financial statements show no matter or circumstance arising after 30 June 2026 that significantly affected the group’s operations, results or state of affairs.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.