ImmuPharma (IMM)

Business description

Immutep (formerly Prima Biomed) has a pipeline based on four LAG-3 products: eftilagimod alpha (IMP321) for cancer chemo-immunotherapy and immunotherapy-immunotherapy combinations, partnered products IMP731 (GSK) and IMP701 (Novartis), and IMP761.

Stock data

Market cap.A$58m
Last closeA$0.02
High / Low (52 weeks)A$84.5 / A$35.5
Stock market listingAU
Forecast net cash (A$m)3.7
Forecast gearing ratio (%)N/A
SectorPharmaceutical & healthcare

Price performance

Relative *6.70.1(28.6)

* % Relative to local index

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Y/E Jun Revenue (A$m) EBITDA (A$m) PBT (A$m) EPS (c) P/E (x) P/CF (x)
2016A 1.9 (12.1) (13.7) (0.6) N/A N/A
2017A 4.1 (7.8) (8.4) (0.4) N/A N/A
2018E 3.5 (8.7) (8.4) (0.4) N/A N/A
2019E 10.5 (0.3) 0.0 0.0 N/A N/A

Last updated on 08/02/2018

Investment summary

Immutep (formerly Prima BioMed) has three promising clinical assets based on a versatile immunotherapy target Lymphocyte activation gene-3, LAG-3 (one partnered with GSK and a second partnered with Novartis). The lead in-house LAG-3 product, eftilagimod alpha (IMP321), is being developed initially in metastatic breast cancer in combination with chemotherapy (226-patient randomised Phase IIb underway, 47% response rate in the 15-patient dose-escalation phase) and in melanoma in combination with the anti-PD1 checkpoint inhibitor Keytruda (Phase I fully recruited, 33% preliminary response rate in first two out of three cohorts). Novartis and GSK are progressing clinical trials of partnered LAG-3 programmes, providing additional validation for the technology. Immutep received a US$1m milestone in January from its Chinese partner Eddingpharm, which was recently granted an IND for IMP321 in China.

Last updated on 02/03/2018

Industry outlook

Immunotherapies are among the most promising class of products for cancer and autoimmune diseases. The LAG-3 products are potentially first-in-class, each with distinct mechanisms and applications.

Last updated on 02/03/2018

Key management

Marc Voigt , CEO
Jay Campbell, Senior Director, Business Development

Company address

Level 12, 95 Pitt Street
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