Want to see AU:IMC full AI Analyst Report?
Top Page
Immuron Limited
(Sydney:IMC)
Select Model
Select Model
Rating:48Neutral
Price Target:
AU$0.05
▲(15.00% Upside)
Action:Reiterated
Date:09/12/26
The score is held back primarily by weak financial performance—ongoing losses and consistently negative operating/free cash flow despite improving revenue and strong gross margins. Technicals are supportive with the price above major moving averages and a positive MACD, but overbought readings (RSI/Stochastics) temper the outlook. Valuation is constrained by a negative P/E and no dividend yield data.
Positive Factors
Commercial revenue traction
Revenue has scaled materially over several years, indicating improving commercial traction and growing adoption of Immuron’s marketed products. Continued top-line expansion would broaden the base available to absorb operating costs and could support a path toward improved profitability if growth persists.
Negative Factors
Persistent unprofitability
Immuron has not yet demonstrated sustainable profitability: operating losses persist and the 2026 net margin was approximately -50%. Although losses appear to be narrowing, the cost base remains well above current revenue, leaving earnings vulnerable unless growth or cost discipline improves materially.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial revenue traction
Revenue has scaled materially over several years, indicating improving commercial traction and growing adoption of Immuron’s marketed products. Continued top-line expansion would broaden the base available to absorb operating costs and could support a path toward improved profitability if growth persists.
Read all positive factors
Immuron Limited (IMC) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$14.53M
Dividend YieldN/A
Average Volume (3M)645.17K
Price to Earnings (P/E)―
Beta (1Y)0.02
Revenue Growth5.85%
EPS Growth42.92%
CountryAU
Employees7
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.01
Shares Outstanding322,848,080
10 Day Avg. Volume1,741,951
30 Day Avg. Volume645,175
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)0.89
Price to Sales (P/S)1.27
P/FCF Ratio-3.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)AU$8.98M
Immuron Limited Business Overview & Revenue Model
Company Description
Immuron Limited, an Australian biopharmaceutical firm founded in 1994 and headquartered in Carlton, is dedicated to the exploration, advancement, and worldwide commercialization of polyclonal antibodies. Operating across two divisions—Research and...
How the Company Makes Money
Immuron makes money primarily through the sale of its commercial products and, to the extent applicable, through collaborative/partnering arrangements tied to development and commercialization of its candidates.
Key revenue streams include:
1) Pr...
Immuron Limited Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
58
Neutral
Cash Flow
32
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.71M | 7.29M | 4.90M | 1.80M | 765.19K |
| Gross Profit | 4.98M | 4.77M | 3.34M | 1.31M | 523.50K |
| EBITDA | -4.74M | -5.31M | -6.19M | -3.80M | -3.08M |
| Net Income | -3.84M | -5.22M | -6.94M | -3.79M | -2.85M |
Balance Sheet | |||||
| Total Assets | 12.99M | 10.13M | 15.55M | 21.99M | 24.86M |
| Cash, Cash Equivalents and Short-Term Investments | 9.02M | 5.87M | 11.66M | 18.99M | 22.11M |
| Total Debt | 0.00 | 117.13K | 173.50K | 189.09K | 209.79K |
| Total Liabilities | 1.99M | 2.06M | 2.84M | 2.37M | 1.68M |
| Stockholders Equity | 11.01M | 8.07M | 12.71M | 19.62M | 23.18M |
Cash Flow | |||||
| Free Cash Flow | -3.07M | -6.14M | -5.56M | -2.50M | -3.14M |
| Operating Cash Flow | -3.07M | -6.14M | -5.56M | -2.49M | -3.13M |
| Investing Cash Flow | 3.03M | -2.90M | 327.56K | -2.74M | 11.74K |
| Financing Cash Flow | 6.49M | 199.75K | 829.00 | -35.02K | -36.26K |
Immuron Limited Technical Analysis
Positive
0.04
Price Trends
0.04
Positive
0.04
Positive
0.04
Positive
Market Momentum
<0.01
Positive
52.28
Neutral
15.15
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IMC, the sentiment is Positive. The current price of 0.04 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.04, and above the 200-day MA of 0.04, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.28 is Neutral, neither overbought nor oversold. The STOCH value of 15.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:IMC.
Immuron Limited Risk Analysis
Immuron Limited disclosed 62 risk factors in its most recent earnings report. Immuron Limited reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
If we fail to comply with the rules under the Sarbanes-Oxley Act of 2002 related to accounting controls and procedures in the future, or, if we discover additional material weaknesses and other deficiencies in our internal control and accounting procedures, the price of our ordinary shares and ADSs could decline significantly and raising capital could be more difficult. Q2, 2024
2.
A material breach in security relating to the Company's information systems and regulation related to such breaches, cyber-attacks, or other disruptions could adversely affect the Company, expose us to liability and affect our business and reputation. Q2, 2024
Immuron Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$91.20M | 26.09 | 46.74% | ― | 29.68% | 1520.00% | |
54 Neutral | AU$73.41M | -14.67 | -211.39% | ― | -46.59% | 9.09% | |
52 Neutral | AU$19.27M | -13.68 | -29.22% | ― | ― | 81.00% | |
52 Neutral | AU$19.05M | -3.67 | -20.36% | 9.68% | -30.79% | -177.68% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | AU$14.53M | -3.57 | -31.88% | ― | 5.85% | 42.92% | |
44 Neutral | AU$2.85M | -2.65 | -101.34% | ― | ― | 64.58% |
* Healthcare Sector Average
AU:IMC
Immuron Limited
0.05
-0.03
-38.67%
AU:AVE
Avecho Biotechnology Limited
0.02
0.01
120.00%
AU:ANR
Anatara Lifesciences Ltd
0.01
-0.01
-50.00%
AU:AGN
Argenica Therapeutics Ltd
0.15
-0.14
-49.12%
AU:EZZ
EZZ Life Science Holdings Ltd.
0.42
-1.77
-80.97%
AU:BIO
Biome Australia Ltd
0.42
-0.05
-9.68%
Immuron Limited Corporate Events
Immuron Showcases Oral Antibody Platform at Coffee Microcaps Conference
Sep 21, 2026
Immuron’s chief executive officer, Steven Lydeamore, is presenting the company’s story and product portfolio to investors at the Coffee Microcaps Conference in Sydney, underscoring its positioning as a niche infectious disease and gast...
Immuron to Launch Calmino’s Digestive Health Device PROIBS in U.S. Market
Sep 3, 2026
Immuron Limited has signed an exclusive U.S. distribution agreement with Sweden’s Calmino group AB to launch PROIBS®, a European-certified medical device for abdominal pain, bloating and irregular bowel movements, following its introduc...
Immuron Issues FY26 Preliminary Results With Safe Harbor Caution
Aug 27, 2026
Immuron Limited has released preliminary financial results for fiscal year 2026 for its listings on Nasdaq and the ASX, noting that these figures remain subject to audit review. The company also cautions that statements in the presentation are for...
Immuron Narrows Loss as Travelan Sales Lift Revenue and Cash Reserves
Aug 27, 2026
Immuron Limited reported a 5.9% rise in revenue to $7.7 million for the year ended 30 June 2026, driven mainly by higher Travelan sales in Australia and North America, while its net loss narrowed 26.4% to $3.8 million as research and development s...
Immuron CEO to Spotlight Oral Immunotherapy Portfolio at Emerging Growth Conference
Aug 18, 2026
Immuron’s chief executive officer, Steven Lydeamore, is scheduled to present at the Emerging Growth Conference on August 19, 2026, highlighting the company’s strategy and its suite of oral immunotherapy products. The appearance undersc...
Immuron CEO Showcases Gut-Targeted Antibody Platform at TechKnow Invest Roadshow
Jul 26, 2026
Immuron CEO Steven Lydeamore is presenting today at the TechKnow Invest Roadshow in Melbourne, highlighting the company’s orally delivered polyclonal antibody platform and commercial portfolio. The appearance underscores Immuron’s focu...
Immuron Seeks Transformational Partnership for C. difficile Drug IMM-529
Jul 5, 2026
Immuron Limited has engaged life sciences advisory firm Pullan Consulting to secure a strategic partner for its Clostridioides difficile infection candidate IMM-529, which holds U.S. FDA Investigational New Drug approval for a Phase 2 trial. The m...
Immuron Adjusts Capital Structure as Over 3.8 Million Shares Cease
Jun 29, 2026
Immuron Limited has notified the market of the cessation of 3,805,528 ordinary fully paid shares, as disclosed in an Appendix 3H filing to the ASX. The cessation of these securities alters the company’s issued capital structure, which may af...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.