The tax credit is a routine, small cash inflow that does not alter the company's fundamental trajectory. Monitor for any update on the root cause analysis of the TACTI-004 failure or partnering discussions, which are the key catalysts for the stock.
How the stock moved after the report
NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Oct 29 $3.33entry
- T+1 · 6d ago −8.11%α −6.34% · $3.06
- T+4 · todayOpen
- T+5 · in 10h Pending
- T+20 · in 22d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
Immutep received a non-dilutive A$2.16 million French R&D tax credit (CIR) for eligible 2025 R&D, adding to a prior A$0.86 million Australian rebate. The cash extends the company's runway into H1 CY2028, but the lead pipeline program (efti) remains stalled after the TACTI-004 Phase III discontinuation, and the company reported a FY2026 net loss of A$79.3 million with a A$3.1 million impairment on efti-related IP. This small tax incentive does not change the fundamental outlook.
Key Facts
- Immutep received A$2.16 million (€1.36 million) from the French CIR R&D tax incentive for 2025 eligible R&D.
- This follows a A$0.86 million Australian R&D tax rebate announced on 30 September 2026.
- The non-dilutive funding will support R&D for eftilagimod alfa (efti) and IMP761.
- Cash and equivalents total A$68.9 million per the 20-F, with runway into H1 CY2028.
- The TACTI-004 Phase III trial was discontinued in March 2026; the lead pipeline program is stalled pending root cause analysis.
- FY2026 net loss was A$79.3 million, up 29% from A$61.4 million in FY2025, including a A$3.1 million impairment on efti-related IP.
Financial Impact
A$2.16 million non-dilutive cash inflow, representing approximately 3.1% of the A$68.9 million cash balance. Immaterial relative to the A$79.3 million annual net loss.
Risk Factors
- Lead pipeline program (efti) remains stalled with no clear path to resumption.
- Cash burn rate of approximately A$79.3 million per year implies runway may be shorter than stated if spending continues at current levels.
- No revenue-generating products; fully dependent on funding and clinical progress.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-436869 |
| Document: d51422dex991.htm | 0001193125-26-436869 |
| Document: 0001193125-26-436869-index-headers.html | 0001193125-26-436869 |
| Document: 0001193125-26-436869-index.html | 0001193125-26-436869 |
| Document: 0001193125-26-436869.txt | 0001193125-26-436869 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 5d ago | 6-K | $3.07 | awaiting T+5 | awaiting T+5 | $3.00 (−2.28%) |
Oct 29, 2026 6d ago | 6-K | $3.33 | awaiting T+5 | awaiting T+5 | $3.00 (−9.91%) |
Oct 23, 2026 12d ago | 20-F | $3.20 $3.06 | ▲ +4.38% | ▲ +3.82% | $3.00 (+6.25%) |
Oct 13, 2026 22d ago | 6-K | $3.38 $3.28 | ▼ −2.96% | ▼ −3.41% | $3.00 (−11.24%) |
Sep 22, 2026 6w ago | 6-K | $5.60 $4.71 | ▼ −15.89% | ▼ −14.71% | $3.00 (−46.43%) |
Sep 1, 2026 9w ago | 6-K | $7.60 $6.60 | ▲ +13.16% | ▲ +12.20% | $3.00 (+60.53%) |
Jul 13, 2026 16w ago | 6-K | $0.4328 $0.3993 | ▼ −7.74% | ▼ −7.27% | $3.00 (+593.16%) |
US Market Status
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