Imugene (IMU) Q2 2026 TU earnings summary

Executive summary

• Achieved 82% overall response rate in Phase 1b azer-cel trial for relapsed/refractory DLBCL, with 14 of 17 patients responding, including 7 complete and 7 partial responses.

• CAR T naïve cohort showed 83% response rate in heavily pre-treated lymphoma patients, with 3 complete responses among 6 evaluable patients.

• FDA meeting validated azer-cel strategy, providing a clear pathway to pivotal trial.

• Strategic collaboration with JW Therapeutics to advance onCARlytics program, focusing on solid tumours.

• Operating costs expected to be approximately 50% lower for FY26, following headcount reduction and sale of manufacturing facility.

Financial highlights

• Cash and cash equivalents at 31 December 2025 were $14.1 million.

• Net cash used in operating activities for the quarter was $13.41 million, with 69% spent on R&D.

• $2.5 million of convertible notes redeemed and replaced with new zero-coupon notes; 7.8 million new warrants issued.

• Estimated quarters of funding available: 1.05, with plans to taper cash outflows and seek additional capital.

Outlook and guidance

• Operating costs for the 12 months ending 30 June 2026 expected to be substantially lower than prior year.

• Anticipates R&D tax incentive refund in the coming quarter and ongoing efforts to streamline R&D programs.

• Board continues to assess alternative capital sources, confident in ability to raise funds as needed.