ImmuPharma (IMM) H2 2023 earnings summary

Executive summary

• Advanced late-stage pipeline assets, notably P140 for SLE, with a new Phase 3 study design and CRO appointment in 2023.

• Positive FDA feedback for P140 in CIDP, with IND and orphan drug applications in preparation.

• Strategic collaborations with CNRS and Avion Pharmaceuticals continue to underpin R&D and IP strength.

• Fundraising activities in 2023 raised £1.57 million, supporting ongoing development and operations.

• Sale of Incanthera shares post-year-end generated £1.5 million in proceeds.

Financial highlights

• Operating loss for 2023 was £3.2 million, up from £3.0 million in 2022.

• Loss after tax decreased to £2.9 million from £3.8 million in 2022.

• Cash and cash equivalents at year-end were £0.2 million, down from £0.7 million in 2022.

• Basic and diluted loss per share was 0.81p (2022: 1.26p).

• No dividend proposed due to ongoing losses.

Outlook and guidance

• Focus remains on advancing P140 (Lupuzor) and CIDP clinical programs toward market.

• Active pursuit of commercial partnerships and prudent cost management.

• Anticipated updates on clinical progress and partnering throughout 2024.