ImmuPharma (LSE:IMM) reported an operating loss of £1.1 million for the six months ended 30 June 2026, broadly in line with the prior-year period, as the drug development company continued work on its P140 and Kapiglucagon programmes.
The overall loss for the period was £4.7 million, reflecting a non-cash finance loss associated with the revaluation of a derivative asset.
Cash at the end of the period stood at £0.7 million. During the period, ImmuPharma completed a £6.47 million equity fundraising involving Lanstead Capital and retail investors. The company expects the financing to extend its funding runway into the second half of 2028.
ImmuPharma Progresses P140 Programme
ImmuPharma continued work on the intellectual property portfolio covering its P140 autoimmune technology platform during the period.
The company incorporated additional experimental data into an international Patent Cooperation Treaty filing and continued to refine its Type M precision medicine approach, which is intended to identify patient populations that may respond to P140.
ImmuPharma also continued partnering discussions relating to P140, with support from its U.S. licensee Avion Pharmaceuticals.
Kapiglucagon Moves Into Active Development
The company also progressed Kapiglucagon from planning into active development, with regulatory, manufacturing and bioanalytical workstreams underway.
These activities are intended to support IND-enabling studies and the subsequent progression of Kapiglucagon towards first-in-human clinical trials.
ImmuPharma is a London-listed drug discovery and development company focused on autoimmune and metabolic diseases. Its development portfolio includes the P140 autoimmune technology platform and Kapiglucagon.
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