ImmuPharma (IMM) H2 2024 earnings summary

Executive summary

• Achieved significant scientific progress in 2024, especially with P140 autoimmune technology, including new insights into its mechanism of action and safety profile.

• Announced major advancements in preclinical research and expanded intellectual property portfolio for P140.

• Sold entire holding in Incanthera plc, realising £1.5 million in proceeds, and extended warrant options.

• Focused on progressing late-stage pipeline assets in autoimmunity and anti-infectives, with active partnering discussions ongoing.

Financial highlights

• Operating loss for 2024 was £2.7 million, reduced from £3.1 million in 2023.

• Research and development expenditure decreased to £1.2 million from £2.0 million year-over-year.

• Finance income rose to £45k (2023: £3k); finance costs fell to £149k (2023: £359k).

• Loss after tax was £2.5 million, down from £2.9 million in 2023; total comprehensive loss was £1.7 million (2023: £3.0 million).

• Cash and cash equivalents at year-end were £0.2 million, unchanged from 2023.

• No dividend proposed due to continued losses.

Outlook and guidance

• Continued focus on bringing P140 to market and securing additional partnering deals.

• Ongoing development of P140 for SLE and CIDP, with plans for further indications and a second-generation product.

• Post year-end, raised approximately £2.91 million through equity fundraising and sharing agreement.