Imugene (IMU) Q1 2027 TU earnings summary

Executive summary

• Azer-cel Phase 1b Cohort 3 reported a 86% ORR across seven evaluable patients as of 19 Oct, with three CRs and three PRs; all had progressed on prior BTKi therapy.

• Quarter-end cash was $5.245m after $7.495m net operating cash outflow; a ~$2.1m FY26 R&D tax incentive refund was expected in the Dec 2026 quarter.

Financial highlights

• Net cash used in operating activities was $7.495m, down 19% from $9.21m in the prior quarter; financing activities generated $10.115m net.

• R&D payments were $4.313m; staff costs were $1.905m, down 51% QoQ; administration and corporate costs were $1.326m, up 24% QoQ.

• Cash and cash equivalents rose from $2.630m at quarter start to $5.245m at quarter end, including $11.12m placement proceeds before costs.

Outlook and guidance

• Expected funding runway was 0.70 quarters at quarter end, excluding the anticipated ~$2.1m FY26 R&D tax incentive refund due in the Dec 2026 quarter.

• Management expected operating cash outflows to remain similar to or below the quarter level, citing R&D streamlining, cost reductions and lower working capital needs.

• The Board was assessing equity financing and/or non-dilutive inflows to fund operations and stated it believed sufficient capital could be raised.