Immutep (IMM) H2 2025 earnings summary

Executive summary

• Advanced to Phase III status with lead candidate efti in non-small cell lung cancer (NSCLC), dosing first patient in March 2025 and securing regulatory approvals in 23 countries.

• Reported strong clinical data across oncology and autoimmune pipelines, including positive survival outcomes in head and neck cancer and promising results in soft tissue sarcoma and breast cancer trials.

• Maintained robust partnerships, expanded IP portfolio with 17 new patents, and published landmark LAG-3 research.

• Ended FY25 with A$129.7 million in cash and term deposits, ensuring funding through end of CY2026.

• Added to S&P/ASX 300 Index, reflecting increased investor confidence.

Financial highlights

• Total revenue and other income rose to A$10.33 million in FY25 from A$7.84 million in FY24, driven by higher interest income and grants.

• Research and development and IP expenses increased to A$61.41 million (FY24: A$41.55 million) due to expanded clinical activity.

• Corporate administrative expenses decreased slightly to A$8.64 million (FY24: A$8.85 million).

• Net loss after tax was A$61.43 million, up from A$42.72 million in FY24, reflecting planned R&D investment.

• Cash and term deposits at 30 June 2025 totaled A$129.69 million.

Outlook and guidance

• Futility analysis for TACTI-004 Phase III NSCLC trial expected by end of CY2025/Q1 CY2026.

• Anticipates multiple clinical catalysts in FY26, including data updates from AIPAC-003, INSIGHT-003, and EFTISARC-NEO, and further progress in autoimmune portfolio.

• Focus remains on execution of clinical trials and advancing efti toward market approval.