ImmuPharma PLC (LON:IMM) said its lead drug development programme remained on track to deliver top line results in the first quarter of next year.
Lupuzor, a treatment for the autoimmune disease lupus, is undergoing phase III clinical trials.
All 200 patients have passed the three-month stage, 28 have been treated for the full 12 months, while 80% of the group have had exposure to the drug for over six months.
The update was provided in the company’s full-year results statement in which the company said it was reviewing a number of options for its potential cancer treatment, IPP-204106, following a Phase I/IIa dose-finding study.
The financials revealed exactly what you’d expect for a life sciences company in the research and development phase – it was loss-making.
The deficit for the year to December of £5.3mln – which is also the amount the company spent on R&D. ImmuPharma’s net assets were £5.5mln.
In a note to clients, analysts at Northland said: “ImmuPharma's results demonstrate the Group's focus on completing its pivotal Phase 3 trial on Lupuzor (a potential breakthrough treatment for Lupus): most of the company's cash burn is deployed towards the trial.
“With a read out expected in Q1 2018, the trial is well on track.”
In late afternoon trading, Immupharma shares were 3.2%, or 1.75p lower at 53.00p.
-- Adds broker comment, share price --