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Immutep Ltd
(Sydney:IMM)
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Rating:44Neutral
Price Target:
AU$0.02
▼(-56.00% Downside)
Action:Reiterated
Date:10/11/26
The score is held back primarily by weak financial quality (large losses and significant ongoing cash burn) and a clearly bearish technical setup (below all major moving averages with negative MACD). These negatives are partially offset by improving revenue momentum and strong FY2026 gross margin, while valuation signals are limited due to a negative P/E and no dividend yield data.
Positive Factors
Revenue Growth
The sharp FY2026 revenue increase indicates improving commercial traction for Immutep’s development and collaboration activities. If this growth persists, a larger revenue base could support broader clinical investment, strengthen partner economics, and improve operating leverage as programs mature.
Negative Factors
Persistent Net Losses
The large net loss shows that improved revenue has not yet translated into sustainable profitability. Continued high operating expense intensity can absorb future collaboration income and delay the point at which Immutep can fund development primarily from operations, maintaining dependence on external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The sharp FY2026 revenue increase indicates improving commercial traction for Immutep’s development and collaboration activities. If this growth persists, a larger revenue base could support broader clinical investment, strengthen partner economics, and improve operating leverage as programs mature.
Read all positive factors
Immutep Ltd (IMM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$33.90M
Dividend YieldN/A
Average Volume (3M)14.84M
Price to Earnings (P/E)―
Beta (1Y)1.88
Revenue GrowthN/A
EPS Growth-27.73%
CountryAU
Employees57
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.05
Shares Outstanding1,474,110,200
10 Day Avg. Volume8,476,795
30 Day Avg. Volume14,840,838
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)1.27
Price to Sales (P/S)5.36
P/FCF Ratio-1.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.07Price Target Upside40.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.01
Revenue Forecast (FY)AU$3.89M
Immutep Ltd Business Overview & Revenue Model
Company Description
Immutep Limited, a biotechnology company, engages in developing novel Lymphocyte Activation Gene-3 related immunotherapies for cancer and autoimmune diseases in Australia. Its lead product candidate is the eftilagimod alfa (efti or IMP321), a solu...
How the Company Makes Money
Immutep primarily makes money through partner-related biotechnology revenue rather than sales of approved products. Key revenue streams typically include: (1) licensing and collaboration agreements for its LAG-3 technology and/or specific drug can...
Immutep Ltd Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 14.56M | 5.04M | 3.84M | 3.51M | 170.37K |
| Gross Profit | 12.08M | -56.37M | -37.70M | 1.44M | -1.89M |
| EBITDA | -81.41M | -62.62M | -44.30M | -42.88M | -31.87M |
| Net Income | -79.30M | -61.43M | -42.72M | -39.90M | -32.21M |
Balance Sheet | |||||
| Total Assets | 83.27M | 156.98M | 201.58M | 147.45M | 102.17M |
| Cash, Cash Equivalents and Short-Term Investments | 68.87M | 129.69M | 181.88M | 123.42M | 80.00M |
| Total Debt | 1.05M | 1.63M | 1.59M | 1.44M | 1.84M |
| Total Liabilities | 21.73M | 13.35M | 12.06M | 10.98M | 8.09M |
| Stockholders Equity | 61.53M | 143.64M | 189.52M | 136.47M | 94.08M |
Cash Flow | |||||
| Free Cash Flow | -55.56M | -62.10M | -35.75M | -35.93M | -30.25M |
| Operating Cash Flow | -55.46M | -62.05M | -34.82M | -35.88M | -30.23M |
| Investing Cash Flow | 56.46M | -38.53M | -21.02M | -31.00K | -22.91K |
| Financing Cash Flow | -214.42K | -525.12K | 95.18M | 76.04M | 50.33M |
Immutep Ltd Technical Analysis
Negative
0.05
Price Trends
0.04
Negative
0.05
Negative
0.13
Negative
Market Momentum
>-0.01
Positive
27.18
Positive
17.62
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IMM, the sentiment is Negative. The current price of 0.05 is above the 20-day moving average (MA) of 0.03, above the 50-day MA of 0.04, and below the 200-day MA of 0.13, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 27.18 is Positive, neither overbought nor oversold. The STOCH value of 17.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IMM.
Immutep Ltd Risk Analysis
Immutep Ltd disclosed 52 risk factors in its most recent earnings report. Immutep Ltd reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Immutep Ltd Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | AU$4.94B | 98.19 | 7.11% | ― | 26.66% | 179.32% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | AU$2.29B | -28.67 | -10.06% | ― | 555.67% | 49.08% | |
44 Neutral | AU$33.90M | -0.44 | -98.86% | ― | ― | -27.73% | |
43 Neutral | AU$239.87M | -28.95 | -42.35% | ― | 145.32% | 25.75% | |
42 Neutral | AU$18.84M | -0.26 | -144.24% | ― | -23.82% | 12.36% | |
41 Neutral | AU$20.33M | -0.12 | -414.10% | ― | ― | -2.15% |
* Healthcare Sector Average
AU:IMM
Immutep Ltd
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Immutep Ltd Corporate Events
Immutep’s First-in-Class LAG-3 Agonist IMP761 Secures Late-Breaking Slot at ACR 2026
Oct 19, 2026
Immutep announced that a late-breaking abstract on its first-in-class immunosuppressive LAG-3 agonist antibody IMP761 has been accepted for poster presentation at the American College of Rheumatology Convergence 2026 in Orlando. The poster will fe...
Immutep, Monash Win New ARC Grant to Advance LAG-3 Research
Oct 13, 2026
Immutep Limited has secured further support for its long-running collaboration with Monash University, as the Australian Research Council granted A$652,248 over three years to fund advanced research into LAG-3 biology. The award, made under the co...
Immutep Restores Nasdaq Bid Price Compliance with ADS Ratio Change
Oct 13, 2026
Immutep Ltd has regained compliance with Nasdaq’s minimum bid price requirement after its American Depositary Shares closed at or above US$1.00 for 10 consecutive business days. This follows an earlier deficiency notice in April when the ADS...
Immutep Moves to Restore ASX Audit Committee Compliance After Director Exit
Oct 9, 2026
Immutep has disclosed that its Audit and Risk Committee no longer complies with ASX Listing Rule 12.7 after the resignation of Non-Executive Director and committee chair Pete Meyers, leaving the committee with two members instead of the required t...
Immutep Details Equity Interests of Departing Director Pete Meyers
Oct 4, 2026
Immutep Ltd has disclosed a final director’s interest notice for departing director Pete Meyers, who ceased to be a board member on 2 October 2026. Following his departure, Meyers retains 4,441,062 ordinary fully paid shares in Immutep, whil...
Immutep Reports Lapse of 2 Million Performance Rights
Oct 4, 2026
Immutep Limited has notified the market that 2,058,631 performance rights, quoted under ASX security code IMMAM, have lapsed. The lapse occurred because the conditions attached to these rights were not satisfied or became incapable of being satisf...
Immutep Announces Board Resignation and Search for New Non-Executive Director
Oct 4, 2026
Immutep Limited has announced the resignation of Non-Executive Director and Deputy Chairman Pete Meyers, who also chaired the Audit and Risk Committee, effective 2 October 2026. The board has begun a process to appoint a new non-executive director...
Immutep Director Increases Shareholding Through Performance Rights Exercise
Sep 30, 2026
Immutep Ltd has reported a change in director Pete Meyers’ interests, as he exercised 388,889 performance rights into an equivalent number of ordinary fully paid shares at no cash consideration, increasing his direct shareholding to 4,441,06...
Immutep Applies to Quote New Ordinary Shares on ASX
Sep 30, 2026
Immutep Limited has applied for the quotation of 388,889 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of October 1, 2026. The new securities arise from the exercise or conversion of existing options or o...
Immutep boosts R&D funding with multi-jurisdiction tax incentives
Sep 30, 2026
Immutep has received an A$856,669 cash rebate under the Australian Federal Government’s RD tax incentive program for eligible research and development activities conducted in fiscal 2025, including certain overseas projects approved under an...
Immutep Adjusts ADS Ratio to Safeguard Nasdaq Listing
Sep 21, 2026
Immutep has announced a significant change to the ratio of its American Depositary Shares listed on the Nasdaq Global Market. Each ADS will now represent 200 ordinary shares instead of 10, effectively amounting to a one-for-twenty reverse split of...
Immutep Refocuses Efti Development After Manufacturing Probe
Sep 10, 2026
Immutep has outlined a focused development strategy for eftilagimod alfa that concentrates on head and neck squamous cell carcinoma patients with negative PD-L1 expression and on the neoadjuvant treatment of soft tissue sarcoma. This narrowed clin...
S&P Dow Jones Indices Unveils September Rebalance of Key S&P/ASX Benchmarks
Sep 4, 2026
SP Dow Jones Indices has announced the September 2026 quarterly rebalance of the SP/ASX index suite, confirming no changes to the blue-chip SP/ASX 20 while reshuffling constituents across the 50, 100, 200 and 300 indices. The move sees Mineral Res...
Immutep Revenue Jumps on Dr Reddy’s Deal but Loss Widens on R&D Spend
Aug 31, 2026
Immutep reported a sharp increase in total revenue for the year to 30 June 2026, driven by $14.6 million recognized from its licensing and collaboration deal with Dr Reddy’s. Despite this uplift, net tangible asset backing per share fell to ...
Immutep balances TACTI-004 setback with upbeat efti and IMP761 data
Jul 29, 2026
Immutep’s latest quarterly update underscores its role in cancer immunotherapy, highlighting pooled data from five trials of eftilagimod alfa combined with standard-of-care therapies across four tumour types. The analysis linked increased ab...
Immutep’s Sarcoma Quality-of-Life Data Accepted for ESMO 2026
Jul 23, 2026
Immutep has had an abstract accepted for presentation at the ESMO Congress 2026 in Madrid, highlighting health-related quality of life data from the investigator-initiated Phase II EFTISARC-NEO trial. The study evaluates its first-in-class MHC Cla...
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.