ImmuPharma (IMM) H1 2025 earnings summary

Executive summary

• Reported a loss of £1.8 million for the six months ended 30 June 2025, up from £0.4 million year-over-year, mainly due to increased R&D and a loss on derivative revaluation.

• Achieved major scientific milestones in the P140 autoimmune technology platform, including new insights into its unique, non-immunosuppressive mechanism of action.

• Advanced discussions with potential global partners for P140, targeting SLE, CIDP, and other autoimmune indications.

• Strengthened balance sheet with an oversubscribed equity fundraise of approximately £2.91 million in February 2025.

Financial highlights

• Loss for the period was £1.8 million, compared to £0.4 million for the same period in 2024.

• R&D expenses rose to £0.7 million from £0.5 million year-over-year; administrative expenses increased to £0.4 million.

• Cash balance at 30 June 2025 was £0.4 million, down from £1.1 million a year earlier.

• Basic and diluted loss per share was 0.38p, compared to 0.09p in the prior year.

• Derivative financial asset valued at £0.6 million, up from £0.5 million year-over-year.

Outlook and guidance

• Focus remains on advancing late-stage clinical assets (P140 for SLE and CIDP) and securing global partnerships.

• Continued emphasis on cost control, strategic outsourcing, and strengthening IP around P140.

• Plans to provide further updates on pipeline and commercial deals throughout 2025.