Immutep Limited
IMMPHealthcare|Biotechnology|AU
$3.34
+0.65 (+24.16%)
Tangible Book / Share
$0.41
Cash / Share
$0.47
Financials
Financial Snapshot
Market Cap
$24.6M
Enterprise Value
-$29.5M
Revenue (TTM)
$21.7M
Net Income (TTM)
-$141.2M
Cash & Investments
$68.9M
Net Cash
$67.8M
Free Cash Flow (TTM)
-$119.5M
Operating CF (TTM)
-$119.3M
Debt/Equity
0.02
Cash Runway & Burn Rate
Cash on Hand
$68.9M
Quarterly Burn
$29.8M
Monthly Burn
$9.9M
Est. Runway
~2.3 quarters
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $12.2M | $23.5M | $16.6M | $26.3M | $60.1M | $80.0M | $123.4M | $181.9M | $129.7M | $68.9M | $68.9M | |
| Operating Cash Flow | -$8.5M | -$7.8M | -$15.3M | -$10.8M | -$17.6M | -$30.2M | -$35.9M | -$34.8M | -$62.0M | -$54.3M | -$119.3M | |
| Free Cash Flow | -$8.5M | -$7.8M | -$15.3M | -$10.9M | -$17.7M | -$30.3M | -$35.9M | -$35.8M | -$62.1M | -$54.3M | -$119.5M | |
| Capital Expenditure | -$6.6K | -$11.9K | -$41.4K | -$19.3K | -$15.6K | -$22.9K | -$47.0K | -$932.4K | -$45.8K | -$90.9K | -$143.3K | |
| Financing Cash Flow | -$8.5K | $18.4M | $8.0M | $20.5M | $52.7M | $50.3M | $76.0M | $95.2M | -$525.1K | -$209.7K | -$373.6K |
R&D Spending
R&D (TTM)
$61.4M
R&D Intensity
283.1%
R&D Growth vs Prior
-18.1%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.2M | $2.6M | $139.8K | $7.5M | $3.9M | $170.4K | $3.5M | $3.8M | $5.0M | $14.2M | $21.7M | |
| R&D Expense | $7.5M | $10.0M | $16.6M | $20.4M | $17.2M | $31.3M | $28.8M | $41.5M | $61.4M | $75.0M | $61.4M | |
| R&D % of Revenue | 178.3% | 379.8% | 11869.3% | 272.4% | 446.2% | 18396.3% | 821.3% | 1081.4% | 1217.6% | 526.6% | 283.1% | |
| SG&A | $4.3M | $7.2M | $6.1M | $6.3M | $6.3M | $7.2M | $14.1M | $8.9M | $8.6M | $18.9M | $63.2M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.2M | $2.6M | $139.8K | $7.5M | $3.9M | $170.4K | $3.5M | $3.8M | $5.0M | $14.2M | $21.7M | |
| Cost of Revenue | $1.7M | $10.0M | $16.6M | $22.5M | $17.2M | $2.1M | $2.1M | $41.5M | $61.4M | $2.4M | $109.1M | |
| Gross Profit | $2.5M | -$7.4M | -$16.5M | -$15.0M | -$13.4M | -$1.9M | $1.4M | -$37.7M | -$56.4M | $11.8M | -$87.4M | |
| R&D | $7.5M | $10.0M | $16.6M | $20.4M | $17.2M | $31.3M | $28.8M | $41.5M | $61.4M | $75.0M | $61.4M | |
| SG&A | $4.3M | $7.2M | $6.1M | $6.3M | $6.3M | $7.2M | $14.1M | $8.9M | $8.6M | $18.9M | $63.2M | |
| Operating Income | -$9.4M | -$11.7M | -$20.4M | -$16.0M | -$31.7M | -$33.9M | -$77.7M | -$88.1M | -$126.4M | -$82.0M | -$212.0M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $10.5K | $9.8K | $92.4K | $20.4K | $30.6K | $0.00 | $66.4K | $68.2K | |
| Pretax Income | -$10.1M | -$12.7M | -$18.3M | -$13.5M | -$29.9M | -$32.2M | -$39.9M | -$42.7M | -$61.4M | -$77.6M | -$141.2M | |
| Net Income | -$9.4M | -$12.7M | -$16.3M | -$13.5M | -$29.9M | -$32.2M | -$39.9M | -$42.7M | -$61.4M | -$77.6M | -$141.2M | |
| EPS (Diluted) | -8.84 | -9.56 | -9.38 | -6.62 | -9.90 | -7.48 | -8.86 | -7.12 | -8.44 | -10.70 | -19.14 | |
| EBITDA | -$8.4M | -$10.4M | -$16.5M | -$11.4M | -$17.6M | -$31.8M | -$39.4M | -$44.4M | -$62.5M | -$79.6M | -$147.2M | |
| Shares Out. (M) | 2.13 | 2.13 | 2.13 | 2.04 | 3.02 | 4.31 | 4.50 | 6.01 | 7.28 | 7.36 | 7.37 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $12.2M | $23.5M | $16.6M | $26.3M | $60.1M | $80.0M | $123.4M | $161.8M | $67.4M | $68.9M | $68.9M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $20.1M | $62.3M | $0.00 | $0.00 | |
| Total Current Assets | $15.9M | $28.6M | $23.5M | $31.2M | $68.4M | $90.8M | $135.0M | $191.4M | $149.1M | $80.6M | $80.6M | |
| Total Assets | $35.0M | $47.0M | $40.5M | $46.6M | $82.0M | $102.2M | $147.4M | $201.6M | $157.0M | $83.3M | $83.3M | |
| Total Current Liabilities | $2.6M | $3.9M | $5.3M | $3.4M | $5.3M | $6.4M | $9.8M | $10.5M | $12.8M | $14.2M | $14.2M | |
| Long-Term Debt | $5.8M | $6.6M | $7.6M | $8.8M | $2.5M | $1.5M | $835.4K | $960.8K | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $8.4M | $13.5M | $16.2M | $13.3M | $8.8M | $8.1M | $11.0M | $12.1M | $13.3M | $21.7M | $21.7M | |
| Stockholders' Equity | $26.5M | $33.5M | $24.4M | $33.3M | $73.3M | $94.1M | $136.5M | $189.5M | $143.6M | $61.5M | $61.5M | |
| Retained Earnings | -$231.8M | -$244.6M | -$262.2M | -$275.7M | -$274.6M | -$302.3M | -$339.9M | -$382.6M | -$444.1M | -$520.8M | -$520.8M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.5M | -$7.8M | -$15.3M | -$10.8M | -$17.6M | -$30.2M | -$35.9M | -$34.8M | -$62.0M | -$54.3M | -$119.3M | |
| Capital Expenditure | -$6.6K | -$11.9K | -$41.4K | -$19.3K | -$15.6K | -$22.9K | -$47.0K | -$932.4K | -$45.8K | -$90.9K | -$143.3K | |
| Free Cash Flow | -$8.5M | -$7.8M | -$15.3M | -$10.9M | -$17.7M | -$30.3M | -$35.9M | -$35.8M | -$62.1M | -$54.3M | -$119.5M | |
| Investing Cash Flow | -$6.6K | -$11.9K | -$41.4K | -$19.3K | -$15.6K | -$22.9K | -$31.0K | -$21.0M | -$38.5M | $55.2M | $52.4M | |
| Financing Cash Flow | -$8.5K | $18.4M | $8.0M | $20.5M | $52.7M | $50.3M | $76.0M | $95.2M | -$525.1K | -$209.7K | -$373.6K | |
| Issuance of Stock | $0.00 | $17.0M | $4.9M | $22.0M | $43.3M | $53.0M | $80.1M | $100.2M | -$164.8K | $0.00 | -$161.4K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | -$77.5K | -$214.4K | -$222.5K | -$212.0K | -$226.5K | -$270.7K | $0.00 | -$118.2K | |
| Stock Based Comp. | $862.2K | $2.3M | $1.6M | $1.7M | $1.7M | $1.5M | $2.0M | $1.8M | $1.2M | $0.00 | $1.2M | |
| Net Change in Cash | -$8.6M | $11.2M | -$6.9M | $9.8M | $34.3M | $19.4M | $43.4M | $38.4M | -$94.4M | $5.1M | -$115.0M |
Dilution Tracker
Shares outstanding grew 143.5% over 5 years — significant dilution
Shares Outstanding
7M
5-Year Share Growth
+143.5%
Stock Issuance (TTM)
-$161.4K
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 2.13 | 2.13 | 2.13 | 2.04 | 3.02 | 4.31 | 4.50 | 6.01 | 7.28 | 7.36 | 7.37 | |
| Change vs Prior % | — | 0.0% | 0.0% | -4.6% | 48.4% | 42.7% | 4.4% | 33.4% | 21.2% | 1.1% | 0.1% | |
| Stock Issuance | $0.00 | $17.0M | $4.9M | $22.0M | $43.3M | $53.0M | $80.1M | $100.2M | -$164.8K | $0.00 | -$161.4K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $862.2K | $2.3M | $1.6M | $1.7M | $1.7M | $1.5M | $2.0M | $1.8M | $1.2M | $0.00 | $1.2M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 59.7% | -279.8% | -11769.3% | -200.2% | -346.2% | -1111.2% | 41.2% | -981.4% | -1117.6% | 83.0% | -402.9% | |
| Operating Margin % | -221.5% | -444.5% | -14606.5% | -214.0% | -820.0% | -19920.0% | -2216.0% | -2293.3% | -2506.5% | -576.2% | -977.2% | |
| Net Margin % | -221.9% | -484.6% | -11640.0% | -179.9% | -774.1% | -18906.5% | -1138.0% | -1111.9% | -1218.0% | -544.8% | -651.0% | |
| EBITDA Margin % | -199.1% | -394.5% | -11778.9% | -152.0% | -456.8% | -18649.4% | -1123.9% | -1155.3% | -1239.6% | -559.2% | -678.5% | |
| FCF Margin % | -201.7% | -296.1% | -10965.5% | -145.0% | -457.1% | -17757.1% | -1024.9% | -930.6% | -1231.1% | -381.7% | -550.7% | |
| ROE % | -35.3% | -38.0% | -66.7% | -40.4% | -40.8% | -34.2% | -29.2% | -22.5% | -42.8% | -126.1% | -98.9% | |
| ROA % | -26.8% | -27.1% | -40.1% | -28.9% | -36.5% | -31.5% | -27.1% | -21.2% | -39.1% | -93.2% | -95.2% | |
| ROIC % | -26.8% | -27.1% | -51.4% | -36.9% | -41.1% | -35.4% | -56.4% | -46.0% | -86.9% | -118.2% | -125.3% | |
| R&D / Revenue % | 178.3% | 379.8% | 11869.3% | 272.4% | 446.2% | 18396.3% | 821.3% | 1081.4% | 1217.6% | 526.6% | 283.1% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2311.6% | -37.7% | -94.7% | 5255.8% | -48.4% | -95.6% | 1957.7% | 9.6% | 31.3% | 182.3% | |
| Gross Profit | 136.6% | -392.0% | -123.5% | 8.9% | 10.8% | 85.8% | 176.3% | -2711.3% | -49.5% | 121.0% | |
| Operating Income | 84.8% | -25.0% | -74.6% | 21.5% | -97.7% | -7.1% | -128.9% | -13.4% | -43.5% | 35.1% | |
| Net Income | 84.9% | -36.1% | -27.7% | 17.2% | -122.0% | -7.7% | -23.9% | -7.1% | -43.8% | -26.3% | |
| EPS (Diluted) | 83.6% | -8.1% | 1.9% | 29.4% | -49.5% | 24.4% | -18.4% | 19.6% | -18.5% | -26.8% | |
| Operating Cash Flow | 24.8% | 8.6% | -96.6% | 29.1% | -62.7% | -71.4% | -18.7% | 3.0% | -78.2% | 12.6% | |
| Free Cash Flow | 24.9% | 8.5% | -96.8% | 29.2% | -62.6% | -71.3% | -18.8% | 0.5% | -73.7% | 12.5% | |
| R&D Expense | 6.6% | 32.7% | 66.1% | 22.9% | -15.5% | 81.8% | -8.1% | 44.3% | 47.8% | 22.1% | |
| SG&A Expense | -92.0% | 66.6% | -15.4% | 3.4% | -0.8% | 14.8% | 95.3% | -37.1% | -2.4% | 118.4% | |
| Total Assets | -17.8% | 34.4% | -13.7% | 14.9% | 76.0% | 24.6% | 44.3% | 36.7% | -22.1% | -47.0% | |
| Book Value / Share | -24.9% | 26.3% | -27.2% | 43.1% | 48.3% | -10.0% | 38.9% | 4.2% | -37.5% | -57.6% | |
| Debt | 15.0% | 15.0% | 15.0% | 18.4% | -68.9% | -38.4% | -29.2% | 29.8% | 2.0% | -35.5% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | -4.6% | 48.4% | 42.7% | 4.4% | 33.4% | 21.2% | 1.1% |
Valuation
P/E (TTM)At Loss
P/S2.63
10Y Low / Med / High6.23 / 94.24 / 2511.65
P/B0.62
10Y Low / Med / High1.44 / 4.25 / 15.04
EV/EBITDA0.35
EV/Revenue-2.03
10Y Low / Med / High1.46 / 65.86 / 2447.80
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$0.41
Net Current Assets / Share
$7.99
Graham Net-Net
$0.37
Cash / Share
$0.47
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -21.15 | -22.40 | -17.54 | -15.75 | -10.42 | -7.86 | -7.15 | -8.48 | -5.90 | -1.13 | -0.48 | |
| P/S Ratio | 94.55 | 173.76 | 2511.65 | 28.37 | 80.70 | 1488.23 | 81.35 | 94.24 | 71.92 | 6.23 | 2.63 | |
| P/B Ratio | 15.04 | 13.64 | 14.40 | 6.38 | 4.25 | 2.70 | 2.09 | 1.91 | 2.53 | 1.44 | 0.62 | |
| EV/EBITDA | -46.73 | -42.42 | -20.78 | -17.15 | -14.42 | -5.52 | -4.14 | -4.55 | -4.75 | -0.26 | 0.35 | |
| EV/Revenue | 93.02 | 167.36 | 2447.80 | 26.06 | 65.86 | 1028.87 | 46.49 | 52.54 | 58.88 | 1.46 | -2.03 |
Analyst Estimates & Quality
Altman Z-Score
-10.00
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2027 | FY2028 | FY2029 |
|---|---|---|---|
| Revenue | $1.9M | $1.4M | $5.5M |
| Net Income | -$14.0M | -$12.0M | -$11.3M |
| EPS | $-1.90 | $-1.63 | $-1.53 |
| # Analysts (EPS) | 1 | 1 | 1 |