Immutep (IMMP) AI Stock Analysis

• Market Cap: $280.35M
• Dividend Yield: N/A
• Average Volume (3M): 113.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.22
• Revenue Growth: N/A
• EPS Growth: -17.16%
• Country: US
• Employees: 41
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.19
• Shares Outstanding: 147,192,030
• 10 Day Avg. Volume: 164,304
• 30 Day Avg. Volume: 113,807
• PEG Ratio: -0.32
• Price to Book (P/B): 2.53
• Price to Sales (P/S): 71.92
• P/FCF Ratio: -5.84
• Enterprise Value/Market Cap: 0.55
• Enterprise Value/Revenue: 30.75
• Enterprise Value/Gross Profit: -2.75
• Enterprise Value/Ebitda: -2.47
• 1Y Price Target: $12.00
• Price Target Upside: 491.13% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 51 Neutral
• Price Target: $1.50 ▼(-26.11% Downside)

Immutep's overall stock score is primarily influenced by its challenging financial performance, marked by persistent losses and negative cash flows. The technical analysis provides some positive momentum, but the valuation remains unattractive due to a negative P/E ratio and lack of dividend yield. The absence of earnings call data and corporate events means these factors do not impact the score.

Positive Factors

Strategic Collaborations

The collaboration with GW Cancer Center for a Phase II trial enhances Immutep's clinical pipeline, potentially strengthening its market position in immunotherapy.

FDA Support

FDA support for eftilagimod alfa in cancer treatment highlights its potential, paving the way for future trials and enhancing Immutep's market position.

Clinical Progress

Progress in clinical trials, including TACTI-004 and INSIGHT-003, demonstrates Immutep's potential in cancer and autoimmune treatments, supporting long-term growth.

Negative Factors

Rising R&D Costs

Increased R&D costs contribute to rising losses, challenging Immutep's financial stability and potentially impacting its ability to sustain long-term operations.

Negative Cash Flows

Persistent negative cash flows reflect operational inefficiencies, limiting Immutep's ability to invest in growth and posing a risk to financial health.

Negative Profit Margins

Negative profit margins indicate that costs exceed revenue, highlighting operational challenges and the need for improved efficiency to achieve profitability.

Immutep Business Overview & Revenue Model

Company Description

Immutep (IMMP) is a biotechnology company focused on developing innovative immunotherapy treatments for cancer and autoimmune diseases. The company operates primarily in the healthcare sector and specializes in harnessing the power of the immune system to combat various diseases. Its core products include LAG-3 (Lymphocyte Activation Gene-3) related therapies, which are designed to enhance immune response in patients undergoing treatment for cancers such as melanoma and breast cancer, as well as autoimmune conditions.

How the Company Makes Money

Immutep generates revenue through a combination of collaborative partnerships, research and development agreements, and potential future product sales. The company often engages in strategic collaborations with pharmaceutical companies, which provide funding for clinical trials and development in exchange for rights to commercialize specific therapies. Key revenue streams include upfront payments, milestone payments based on the achievement of clinical and regulatory objectives, and royalties from any future product sales resulting from these partnerships. Additionally, Immutep may also explore licensing agreements that could provide further financial support as they advance their pipeline of therapies.

Immutep Financial Statement Overview

Summary

Immutep's financial performance reflects typical challenges in the biotechnology sector, with negative net income and operating losses. Despite this, a strong equity position and substantial cash reserves provide financial stability. However, negative cash flow from operations highlights ongoing financial pressures.

Income Statement

Immutep's income statement reveals significant challenges with profitability. The company has consistently reported negative net income and EBIT, indicating ongoing operational losses. Revenue growth has been inconsistent, with a recent increase from 2023 to 2024, but overall revenues remain low. Gross profit margins are negative, reflecting high costs relative to revenue. The biotechnology industry often faces long development cycles and high R&D costs, contributing to these financial pressures.

Balance Sheet

The balance sheet shows a strong equity position with a high equity ratio, indicating financial stability. The company maintains a low debt-to-equity ratio, suggesting prudent financial management and low leverage. However, the negative net income impacts return on equity, which remains negative. The high cash reserves provide a buffer for ongoing operations and potential investments.

Cash Flow

Immutep's cash flow statement highlights substantial negative free cash flow, reflecting cash burn typical for biotech companies in development phases. Operating cash flow is negative, indicating cash outflows from core operations. However, the company has successfully raised financing, as seen in positive financing cash flow, supporting its liquidity position. The free cash flow to net income ratio is unfavorable due to persistent losses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.04M	5.04M	3.84M	3.51M	170.37K	3.86M
Gross Profit	-56.37M	-56.37M	-37.70M	1.44M	-1.89M	-13.37M
EBITDA	-62.88M	-62.88M	-44.54M	-39.57M	-31.87M	-17.77M
Net Income	-61.43M	-61.43M	-42.72M	-39.90M	-32.21M	-29.90M
Balance Sheet
Total Assets	156.98M	156.98M	201.58M	147.45M	102.17M	82.03M
Cash, Cash Equivalents and Short-Term Investments	129.69M	129.69M	181.88M	123.42M	80.00M	60.13M
Total Debt	1.63M	1.63M	1.59M	1.23M	1.73M	2.82M
Total Liabilities	13.35M	13.35M	12.06M	10.98M	8.09M	8.76M
Stockholders Equity	143.64M	143.64M	189.52M	136.47M	94.08M	73.27M
Cash Flow
Free Cash Flow	-62.10M	-62.10M	-35.75M	-35.93M	-30.25M	-17.66M
Operating Cash Flow	-62.05M	-62.05M	-34.82M	-35.88M	-30.23M	-17.64M
Investing Cash Flow	-6.12M	-38.53M	-21.02M	-31.00K	-22.91K	-15.60K
Financing Cash Flow	-152.12K	-525.12K	95.18M	76.04M	50.33M	52.68M

Immutep Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMMP, the sentiment is Positive. The current price of 2.03 is above the 20-day moving average (MA) of 1.78, above the 50-day MA of 1.73, and above the 200-day MA of 1.80, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 66.94 is Neutral, neither overbought nor oversold. The STOCH value of 81.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IMMP.

Immutep Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLLS	64 Neutral	$323.56M	―	-48.36%	―	334.02%	―
LYEL	54 Neutral	$350.80M	―	-76.59%	―	11.11%	-46.50%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IMMP	51 Neutral	$280.35M	―	-35.86%	―	―	-17.16%
SLN	46 Neutral	$247.98M	―	-99.23%	―	―	―
IMAB	45 Neutral	$401.51M	―	-22.44%	―	-100.00%	72.45%
RNAC	44 Neutral	$266.00M	―	-938.38%	―	―	―

Immutep Corporate Events

Immutep Collaborates with GW Cancer Center for New Breast Cancer Trial

On September 22, 2025, Immutep announced a research collaboration with the George Washington University Cancer Center to initiate a Phase II trial evaluating its immunotherapy drug, eftilagimod alfa (efti), in early-stage HR+/HER2-negative breast cancer patients. The trial will explore efti as a monotherapy and in combination with chemotherapy, aiming to enhance the anti-cancer immune response and improve pathologic complete response rates. This collaboration marks a strategic expansion of Immutep’s clinical pipeline, potentially strengthening its position in the immunotherapy market and addressing high unmet medical needs.

Immutep Reports Increased Losses Amid Rising R&D Costs

Immutep Limited reported its preliminary financial results for the year ended June 30, 2025, on August 29, 2025. The company experienced an increase in losses, with a loss after tax rising from $42.7 million in FY2024 to $61.4 million in FY2025. This increase was primarily due to a $19.9 million rise in R&D and intellectual property expenses, largely driven by higher clinical trial costs. Despite the financial loss, the company saw a rise in other income and interest income, attributed to higher cash balances invested in term deposits. The report highlights the company’s ongoing commitment to advancing its clinical trials, although it did not declare any dividends for the period.

Immutep Gains FDA Support for Eftilagimod Alfa in Cancer Treatment

On August 5, 2025, Immutep Limited announced that it received positive feedback from the FDA regarding the clinical development of its MHC Class II agonist, eftilagimod alfa, for treating recurrent/metastatic head and neck squamous cell carcinoma patients with low PD-L1 expression. The FDA’s support highlights the potential of eftilagimod alfa in combination with KEYTRUDA to address unmet medical needs in this patient segment, paving the way for future clinical trials and potential accelerated approval. This feedback positions Immutep to explore collaborative development paths, potentially enhancing its market position and offering new treatment options for underserved patients.

Immutep Reports Significant Progress in Cancer and Autoimmune Trials

Immutep Limited has announced significant progress in its clinical trials and research activities for the quarter ending June 30, 2025. The company is advancing its TACTI-004 Phase III trial for non-small cell lung cancer, with patient recruitment expanding across 78 sites in 23 countries. The INSIGHT-003 trial showed promising results with a high response rate in lung cancer patients, while the EFTISARC-NEO trial in soft tissue sarcoma met its primary endpoint. Additionally, the company reported positive initial data from its IMP761 Phase I trial for autoimmune diseases, highlighting its potential efficacy. Immutep maintains a strong cash position, supporting its operations through the end of 2026.