Imugene (IMU) AGM 2026 presentation summary

Clinical progress

• 140 patients treated with azer-cel across Phase 1 and Phase 1b; Phase 1b response rate was 77% in 56 patients with B-cell cancers.

• Phase 1b showed no GvHD or grade ≥3 CRS; early BTKi combination data showed an 86% ORR (6 of 7 patients).

• BTK inhibitors represent a ~US$12bn global market in 2025; data received oral presentation slots at ASH 2025 and ASCO 2026, with a poster selected for ASH in December 2026.

• Positive FDA Type C meeting held in November 2025; clinical doses secured to complete Phase 1b and commence the Phase 2 pivotal study.

• Single-asset focus on azer-cel; cost base reduced ~40%, with spending directed to the program.

Upcoming milestones

• Present initial BTKi combination data at ASH in December 2026.

• Complete Phase 1b enrolment in Q2 2027.

• Hold an FDA Type B meeting in mid-2027 to confirm the registrational pathway for BTKi combination therapy.

• Initiate a registrational study in 2H 2027/2028; out-licensing discussions are underway.

Cost and remuneration

• Remuneration costs reduced by $4.2m following workforce reductions and departures of high-compensation individuals; senior roles such as CMO are covered by fractional consultants.

• No equity allocations to directors or leadership this year; no CEO or Executive Chair salary increases in the past 12 months and no increases to non-Executive Director fees.

• Future senior hires are expected to be compensated in line with market capitalization and established ASX sector pay structures.