Search Share Prices
ImmuPharma impresses with mixed data from lupus trial
Drug discovery and development company ImmuPharma saw losses widen in its last trading year, but fresh analysis of results from its pivotal Phase III trial on its Lupus treatment has given both the firm and its investors some reason to be optimistic.
Losses widened 17% to £6.2m and ImmuPharma's loss per share grew 4.63% to 4.75p each in the twelve months leading to 31 December.
ImmuPharma finished the year with a cash balance of £2.7m after the £4.1m fundraising in March last year, topped up by a £10m fundraiser post-period end this January, while negotiations with potential partners for Lupuzor continued.
Research and development costs dipped 3.92% to £5.1m.
Chairman Tim McCarthy said, "As a board, we continue to be excited by ImmuPharma's future potential. Looking at the Lupuzor top-line data announced in April, the drug demonstrated a superior response rate over placebo with an exceptional safety profile, giving it, we believe, a compelling product profile."
In a separate announcement on Tuesday morning, ImmuPharma revealed that further analysis of data from its Phase III trial of its Lupuzor compound demonstrated that in the Europe cohort the drug showed a "statistically significant" reduction in disease activity compared to the placebo. However, in the US the firm said it saw just 40% of its 72 patients fall into the "antibody positive" category.
"This contrasting result in the US compared to the positive result in the Europe cohort, may be due to a number of differing factors between the two cohorts, which requires further investigation," the group said.
As of 1410 BST, Immupharma shares had gained 7.97% to 29.80p.