IMMP · Immutep Limited

Immutep reported a significant clinical setback with the discontinuation of the TACTI-004 Phase III trial following an IDMC-recommended futility analysis. The efti arm underperformed versus control, leading to an orderly wind-down. The company is conducting a root cause analysis that may extend into Q3 CY2026. Financially, the company ended Q3 FY2026 with A$110.6 million in cash, cash equivalents, and term deposits, bolstered by a US$20 million upfront payment from Dr. Reddy's. However, the discontinuation triggers a US$10 million payment obligation to Dr. Reddy's by June 2026. Cost reduction measures, including headcount reductions, are underway to extend the cash runway into H1 CY2028. The company continues to advance other programs, including IMP761 for autoimmune diseases and EFTISARC-NEO for soft tissue sarcoma, which received FDA orphan drug designation.