ImmuPharma shares drop as losses ramp up

AIM-listed drug discovery firm ImmuPharma (LON:IMM) reported a loss of £7.2 million for the year ended 31st December, up from a £6.2 million loss in the prior year. Management said that the increased loss was largely due to share-based expenses.

Chairman Tim McCarthy commented: “We are pleased to report our results for 2018 as well as the key highlights for our programs. Following on from the Phase III results, we are focused on progressing LupuzorTM and the P140 autoimmune platform. Our plans to combine and either divest, spin off or license Elro Pharma (Nucant) and Ureka (Peptide Platform) are planned to unlock value for shareholders. We look forward to reporting on these developments in the coming months. We would also like to take this opportunity to thank our shareholders, scientific advisors, corporate collaborators and the CNRS“.

The share price of ImmuPharma dropped by 5.43% to 9.76p (as 15:25 BST).