On May 11, 2023 ImmuPharma PLC (LSE:IMM), ("ImmuPharma" or the "Company"), the specialist drug discovery and development company, reported its final results for the twelve months ended 31 December 2022 (the "Period") (Press release, ImmuPharma, MAY 11, 2023, View Source [SID1234631511]).
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Key Highlights (including post Period review)
Financial
Loss for the Period of £3.8m (2021: £8.2m)
Research and development expenses of £2.0m (2021: £3.7m)
Administrative expenses of £0.8m (2021: £1.0m)
Exceptional items of £nil (2021: £1.4m, representing corporate reorganisation costs)
Cash balance at 31 December 2022 of £0.7m (31 December 2021: £1.6m)
Successful subscription and placing, raising in total £2.0m (gross) – August 2022
Lanstead derivative financial asset of £0.3m (2021: £0.9m)
Incanthera financial asset of £0.7m (2021: £1.2m)
Warrants financial asset of £0.001 (2021: £0.2m)
Product Development
P140 Pharmokinetic ("PK") study successfully completed in April 2022 with key findings shared with the FDA*
In February 2023 an adaptive Phase 2/3 study for Lupuzor in SLE/Lupus patients was agreed with US partner, Avion Pharmaceuticals, following guidance from the FDA
Type C meeting confirmed with FDA for 7 June 2023 for consideration of the new protocol of the Phase 2/3 adaptive study for Lupuzor in SLE patients
Pre-IND meeting confirmed with FDA for 16 May 2023 for feedback on the new protocol of the Phase 2/3 adaptive study for CIDP
Collaboration with Orano – ImmuPharma peptide technology as a vector for cancer radiotherapy – an initial collaboration for 12 months
*FDA (Food and Drug Administration)
Commenting on the statement and outlook Tim McCarthy, CEO, said:
"As a Board, we remain focused on bringing our two key late stage clinical assets, Lupuzor for lupus and CIDP closer to the market. We now have a clinical roadmap for Lupuzor and remain on track to commence the Phase 2/3 adaptive trial in H2 2023, with potentially CIDP moving into clinical studies in parallel. This illustrates the potential franchise we have within our P140 autoimmune platform.
We will also continue to concentrate on further commercial and partnering opportunities. In conjunction with the above objectives, we continue to take prudent measures on managing our cost base.
In closing, we would like to thank our shareholders for their support as well as our staff, corporate and scientific advisers and our partners including CNRS and Avion."