ImmuPharma PLC (LON:IMM), the specialist drug discovery and development company, has today announced its interim results for the six months ended 30 June 2019.
Commenting on the statement and outlook Tim McCarthy, Chairman, said: “With further analysis gained from our Phase III results, together with our extension study successfully meeting its endpoint confirming its safety profile, we are focused on progressing LupuzorTM into a further Phase III trial. Our plans to create further shareholder value within our Peptide Platform (Ureka) and Nucant (Elro Pharma) continue. We look forward to reporting on these developments. We would also like to take this opportunity to thank our shareholders, scientific advisors, corporate collaborators and the CNRS.”
Key Highlights (including post Period review)
Financials
Stable financial performance over the Period
- Cash balance of £2.3 million as at 30 June 2019 (31 December 2018: £4.9 million)
- Derivative financial asset of £1.9 million as at 30 June 2019 (31 December 2018: nil)
- Loss for the period of £3.9 million (30 June 2018: £4.1 million)
- Research and development expenses of £1.4 million (30 June 2018: £2.5 million)
- Basic and diluted loss per share of 2.80p (30 June 2018: 2.94p)
- Subscription agreement with Lanstead Capital Investors LP raising approximately £2.66 million
- Lanstead retains a holding of over 16% in ImmuPharma
LupuzorTM
Open label extension study – Following the completion of LupuzorTM‘s Phase III clinical trial in January 2019, ImmuPharma undertook an open label extension study. Analysis of results from Lupuzor’s™ ‘extension’ open label study were announced on 28 June 2019
- 62 eligible patients enrolled throughout the US and Europe completing a 24-week treatment period
- Primary endpoint successfully achieved confirming the safety profile of Lupuzor™
- No ‘serious adverse events’ related to Lupuzor™ reported
- Insights into the Phase III data allow an optimised Lupuzor™ phase III design to progress
Exploration within the P140 platform for different auto-immune indications outside of lupus continues
Other program developments
- Within our two further platforms, Ureka Sarl (Peptide) and Elro Pharma (Nucant) , ImmuPharma continues to explore options to license, divest or ‘spin-off’ the technologies to unlock future potential and enhance value to shareholders
- The peer reviewed research journal ‘Nature Communications’ paper published on the proprietary technology Urelix™ from Ureka – Superior GLP-1 analogues pave way for peptide types across many therapy areas
- Negotiations with Incanthera Limited on the Nucant cancer programme and broader collaboration discussions terminated – ImmuPharma retains a 15% shareholding in Incanthera
Industry reports
- The Life Sciences Division published an initiation research note on ImmuPharma in May 2019
