ImmuPharma (IMM) H2 2025 earnings summary

Executive summary

• Advanced lead asset P140 toward late-stage clinical readiness, with new patent filings and precision medicine approach for autoimmune diseases.

• Strengthened pipeline with progress in Kapiglucagon for type 1 diabetes and anti-infective assets BioAMB and BioCIN.

• Constructive regulatory engagement and ongoing discussions with potential global partners for P140.

• Board and management changes, including new Chief Scientific Officer and Head of R&D.

Financial highlights

• Operating loss reduced to £2.5m (2024: £2.7m); loss after tax improved to £1.8m (2024: £2.5m).

• Research and development expenditure increased to £1.3m (2024: £1.2m); administrative expenses stable at £1.0m.

• Finance income rose to £374k (2024: £45k); finance costs decreased to £12k (2024: £149k).

• Cash and cash equivalents at year-end £1.4m (2024: £0.2m), reflecting successful equity raises.

• Basic and diluted loss per share was 0.37p (2024: 0.60p); no dividend proposed.

Outlook and guidance

• Focused on securing a commercial partnership for P140 in 2026.

• Sufficient funding runway into 2027 following capital raises.

• Strategic priority to fast-track Kapiglucagon development over the next two years.