TIDMIMM
RNS Number : 8715K
Immupharma PLC
31 August 2023
RNS: RELEASE | 31 August 2023
ImmuPharma PLC
("ImmuPharma" or the "Company")
INTERIM RESULTS
for the six months ended 30 June 2023
ImmuPharma PLC (LSE:IMM) , ("ImmuPharma" or the "Company"), the
specialist drug discovery and development company, is pleased to
announce its interim results for the six months ended 30 June 2023
(the "Period").
Key Highlights (including post Period review)
Financials
-- Loss for the Period of GBP0.8m (30 June 2022: GBP1.7m)
-- Research and development expenses of GBP0.8m (30 June 2022: GBP1.0m)
-- Administrative expenses of GBP0.4m (30 June 2022: GBP0.6m)
-- Share based expense of GBP0.1m (30 June 2022: GBP0.1m)
-- Cash balance of GBP0.2m as at 30 June 2023 (31 December 2022: GBP0.2m)
-- Derivative financial asset of GBP0.6m as at 30 June 2023 (31 December 2022: GBP0.6m)
-- Basic and diluted loss per share of 0.25p (30 June 2022: 0.58p)
-- Successful fundraising - see separate announcement today
Portfolio
-- In February 2023 an adaptive Phase 2/3 study for Lupuzor(TM)
in SLE/Lupus patients was agreed with US partner, Avion
Pharmaceuticals.
-- In March 2023 a collaboration with Orano SA on ImmuPharma's peptide technology was announced.
-- In May 2023, ImmuPharma received positive guidance from the
Food and Drug Administration ("FDA") following the
Pre-Investigational New Drug ("PIND") meeting supporting a Phase
2/3 adaptive clinical study of P140 in CIDP.
-- In June 2023, confirmation that following receipt of
comprehensive guidance from the FDA, a Phase 2/3 adaptive clinical
trial of P140 (Lupuzor(TM)) in patients with Lupus will commence in
H2 2023.
-- Established discussions with new potential corporate partners
across the P140 platform and anti-infective programmes.
Corporate
-- In August 2023, the Board was strengthened with two NED appointments: Dr Laurence Reilly & Dr Sébastien Goudreau.
Commenting on the statement and outlook Tim McCarthy, CEO and
Chairman, said :
"We continue to make positive progressive steps for ImmuPharma.
As a Board, we remain focused on bringing our two key late stage
P140 clinical assets in Lupus and CIDP through their final clinical
trials and to the market.
The drive to conclude further commercial and partnering deals
will be accelerated over this next period and which is now
bolstered by the recently announced new Board appointments.
The Board would like to take this opportunity to thank its
shareholders for their continued patience and support, as well as
its staff, corporate and scientific advisers and our partners
including CNRS and Avion."
Market Abuse Regulation (MAR) Disclosure
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMED. ON PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
For further information please contact:
ImmuPharma PLC (www.immupharma.co.uk) + 44 (0) 2072 062650
Tim McCarthy, Chief Executive Officer and Chairman
Lisa Baderoon, Head of Investor Relations + 44 (0) 7721 413496
SPARK Advisory Partners Limited (NOMAD)
Neil Baldwin +44 (0) 203 36 8 8974
Stanford Capital Partners (Joint Broker)
Patrick Claridge, Bob Pountney +44 (0) 203 815 8880
SI Capital (Joint Broker)
Nick Emerson +44 (0) 1483 413500
A copy of the interim report is available on the Company's
website www.immupharma.co.uk
ImmuPharma plc
INTERIM RESULTS
FOR THE SIX MONTH PERIODED 30 JUNE 2023
ImmuPharma plc
Chairman's Statement
The first part of 2023 was a period of further progress for
ImmuPharma, as we continued to focus on progressing our late-stage
pipeline assets specifically, within our P140 autoimmune
platform.
Most recently in June, the Company announced that, after
receiving comprehensive guidance from the Food and Drug
Administration ("FDA") on the new Phase 2/3 adaptive clinical trial
protocol for the lead programme for the treatment of patients with
systemic lupus erythematosus ("SLE/Lupus"), it is moving forward
with the study, together with its US partner Avion Pharmaceuticals
("Avion").
Positive progress was also announced in May for a second high
medical need disease, chronic idiopathic demyelinating
polyneuropathy ("CIDP"). The Company received positive feedback
from the FDA at a pre-IND meeting for a late-stage Phase 2/3
adaptive clinical program in patients, which is a further
debilitating auto-immune condition within the Company's P140
platform.
In parallel with advancements in the late-stage clinical
developments, the Company is also actively in discussions with a
number of potential commercial partners for programmes across the
Company's development portfolio.
Lupuzor(TM)/P140 - opportunity and next steps
There are an estimated five million people suffering from Lupus,
with approximately 5 million patients in the US, Europe and Japan
(Source: Lupus Foundation of America). The prevalence in China may
be 2-3 times that seen in the US. Current 'standard of care'
treatments, including steroids and immunosuppressants, can
potentially have either serious side effects for patients or
limited efficacy, with over 60 per cent of patients not adequately
treated.
ImmuPharma believes Lupuzor(TM)/P140 has the potential to be a
novel specific drug therapy for the treatment of Lupus by
specifically modulating the immune system and halting disease
progression in most Lupus patients. It has a unique mechanism of
action and is not an immunosuppressant like other drugs.
Lupuzor(TM)/P140 normalises the over-activity of T-cells which are
involved in the immune response leading to Lupus disease.
Lupuzor(TM) taken over the long term may have the potential to
prevent the progression of Lupus rather than just treating its
symptoms, with the rest of the immune system retaining the ability
to work normally.
A new major opportunity for P140 is CIDP, a rare acquired
autoimmune disorder of peripheral nerves. It is a neurological
disorder characterized by progressive weakness and impaired sensory
function in the legs and arms. CIDP is a potential orphan drug
indication which would provide patent life extension of 7 years
post-approval.
The Board is confident that there is a route to market for P140
in Lupus and CIDP including further corporate collaborations.
Lupuzor(TM) Phase 2/3 Adaptive Study
As announced in June 2023, following the receipt of
comprehensive guidance from the FDA, in conjunction with our US
partner Avion, a Phase 2/3 adaptive clinical trial of P140
(Lupuzor(TM)) in patients with Lupus will commence in H2 2023.
The trial design and protocol is substantially different from
previous clinical trials that ImmuPharma has completed and includes
maintaining subcutaneous dosing but at much higher concentrations
and significant changes to patient inclusion criteria and primary
and secondary clinical endpoints.
The detailed protocol and key elements of the clinical trial
design will be communicated at a later stage once the details of
the trial are available on clinicaltrials.gov (a comprehensive
database of privately and publicly funded clinical studies
conducted around the world).
Lupus ABC Consortium
The FDA's Center for Drug Evaluation and Research ("CDER") has
partnered with the Lupus Research Alliance ("LRA") to launch the
Lupus Accelerating Breakthroughs Consortium ("Lupus ABC"), a
first-of-its-kind public-private partnership focused on addressing
challenges impacting Lupus clinical trial success.
Lupus ABC will convene people living with Lupus, medical
societies, industry, academic clinical researchers and scientists,
FDA, and other federal agencies to address scientific hurdles that
are beyond the capacity of any single entity. By connecting those
with lived experience with all parties involved in Lupus treatment
research, CDER hopes to advance the development of urgently needed
treatments for Lupus.
This can only be extremely good news for Lupus patients
worldwide, including ImmuPharma, our partners and our peers, in
bringing new safe Lupus drugs to the market, sooner rather than
later.
CIDP / P140
For P140 in CIDP we announced in April 2023 that we had received
confirmation from the FDA for a pre- Investigational New Drug
("PIND") meeting date of 16 May 2023, to consider a Phase 2/3
adaptive trial study protocol.
In May 2023, ImmuPharma received positive guidance from FDA
following the PIND meeting that confirms the route for a Phase 2/3
adaptive clinical study of P140 in CIDP.
The FDA feedback recognises that P140 is suitable to be studied
in another disease indication in addition to SLE and this strongly
supports the underlying science and mechanism of action of P140
across several auto-immune/inflammatory diseases and is a
significant breakthrough for the P140 platform.
The Phase 2/3 adaptive clinical trial will be the first pivotal
stage study of P140 in patients with CIDP: a rare neurological
disease with high medical need.
An IND application is now being prepared for submission to the
FDA, incorporating all guidance points. An application for Orphan
Drug status for CIDP will be also submitted in parallel to the full
IND application.
The CIDP market is expected to reach global sales of US$2.7bn by
2029.
Anti-Infection
The innovative peptide technology at ImmuPharma Biotech has been
a huge success and very recently has given rise to a number of
novel development programs, out of which we have identified two
core programs: BioAMB and BioCin, which we believe have the best
commercial opportunity and speed to market. These programs are
based on existing drugs that have been used for decades so the PK,
efficacy and safety of those drugs is well understood. They will
also be patent protected.
o BioAMB, a novel peptide-based drug that offers a potential
improvement on the limiting side effects and poor administration
regime of current Amphotericin-B ("AMB") formulations. AMB is one
of a last line of agents against serious and life-threatening
fungal infections caused by the aspergillus family of fungi.
o BioCin, a novel peptide-based drug based on an existing potent
antibacterial, vancomycin, used in high medical need cases and in
many cases the last line of defense. BioCin has the potential to
offer improved safety and administration benefits.
Pipeline Overview
Our therapeutic focus is on two core areas;
Autoimmunity/Inflammation and Anti-infection. We also look for
valuable deals for non-core assets as evidenced by a collaborative
deal, signed in March 2023, with Orano SA on ImmuPharma's peptide
technology as a vector for cancer radiotherapy. The initial
collaboration is for 12 months, and a small undisclosed upfront
payment was paid to ImmuPharma.
Commercial Activities
Management has established discussions with new potential
corporate partners across the P140 platform and anti-infective
programmes. The drive to conclude further commercial and partnering
deals will be accelerated over this next period and which is now
bolstered by the recently announced new Board appointments.
Centre National de la Recherche Scientifique (CNRS)
ImmuPharma continues to have important collaboration
arrangements with the Centre National de la Recherche Scientifique
("CNRS"), the French National Council for Scientific Research and
the largest basic research organisation in Europe. This is where
Lupuzor(TM) /P140 platform was invented by Prof. Sylviane Muller,
Emeritus Research Director at the CNRS.
Interest in Incanthera Plc
As at 30 June 2023, ImmuPharma had a 12.7% interest in oncology
specialist, Incanthera plc, which trades on Aquis Stock Exchange
("AQSE") under the ticker (TIDM:INC).
ImmuPharma also has 7,272,740 warrants in Incanthera at an
exercise price of 9.5p. As most recently announced in August 2023,
the term of these Warrants has been extended by 12 months to 6
September 2024.
As announced in Incanthera's interim report in December 2022,
the Company continues to concentrate upon furthering discussions to
capitalise on the potential for various applications of its
skincare portfolio for commercial success.
As a major shareholder, ImmuPharma remains supportive of
Incanthera.
Capital subscription post period end
The Company has undertaken a successful fundraising post period
ended; see the separate announcement issued today.
Current Activities and Outlook
"We continue to make positive progressive steps for ImmuPharma.
As a Board, we remain focused on bringing our two key late stage
P140 clinical assets in Lupus and CIDP through their final clinical
trials and to the market.
The drive to conclude further commercial and partnering deals
will be accelerated over this next period and which is now
bolstered by the recently announced new Board appointments.
The Board would like to take this opportunity to thank its
shareholders for their continued patience and support, as well as
its staff, corporate and scientific advisers and our partners
including CNRS and Avion."
Tim McCarthy
Chairman & Chief Executive Officer
31 August 2023
ImmuPharma plc
CONSOLIDATED INCOME STATEMENT
FOR THE PERIODED 30 JUNE 2023
Unaudited Audited Unaudited
6 months Year ended 6 months
ended 31 December ended
Note 30 June 2022 30 June
2023 2022
GBP GBP GBP
Continuing operations
Revenue 69,959 - -
Research and development ( 2,022,507
expenses (828,767) ) (1,042,917)
( 846,571
Administrative expenses (412,277) ) (555,600)
( 159,874
Share based expense (127,327) ) (70,994)
(3,028,952
Operating loss (1,298,412) ) (1,669,511)
Finance costs 6 (931) (1,455,966) (176,665)
Finance income 162,286 (28,585) 16,364
Loss before taxation (1,137,057) (4,456,333) (1,829,812)
Tax 289,691 648,902 166,024
Loss for the period (847,366) (3,807,431) (1,663,788)
Attributable to:
Equity holders of the parent
company (847,366) (3,807,431) (1,663,788)
Loss per ordinary share
Basic and diluted 2 (0.25)p (1.26)p (0.58)p
ImmuPharma plc
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIODED 30 JUNE 2023
Unaudited Audited Unaudited
6 months Year 6 months
ended ended ended
30 June 31 December 30 June
2023 2022 2022
GBP GBP GBP
Loss for the financial period (847,366) (3,807,431) (1,663,788)
Other comprehensive income
Items that will not be reclassified
subsequently to profit or loss:
Fair value loss on investment (54,474) (519,977) (614,068)
Fair value loss on warrants 7,421 (206,279) (206,411)
Total items that will not be
reclassified subsequently to
profit or loss (47,053) (726,256) (820,479)
Items that may be reclassified
subsequently to profit or loss:
Exchange differences on translation
of foreign operations (18,897) 79,104 16,350
Total items that may be reclassified
subsequently to profit or loss (18,897) 79,104 16,350
Other comprehensive loss for
the period (65,950) (647,152) (804,129)
Total comprehensive loss for
the period (913,316) (4,454,583) (2,467,917)
ImmuPharma plc
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023
Note Unaudited Audited Unaudited
6 months Year 6 months
ended ended ended
30 June 31 December 30 June
2023 2022 2022
GBP GBP GBP
Non-current assets
Intangible assets 463,207 473,892 471,534
Property, plant and equipment 332,992 389,716 330,835
Financial asset 642,526 689,579 595,355
Derivative financial asset 4 36,466 82,563 196,488
Total non-current assets 1,475,191 1,635,750 1,594,212
Current assets
Trade and other receivables 705,867 723,583 114,450
Cash and cash equivalents 210,584 667,813 170,922
Current tax asset 624,429 695,297 595,205
Derivative financial asset 4 272,388 252,258 400,306
Total current assets 1,813,268 2,338,951 1,280,883
Current liabilities
Financial liabilities -
borrowings - (111) (230)
Trade and other payables (1,551,071) (1,451,213) (858,291)
Total current liabilities (1,551,071) 1,451,324) (858,521)
Net current assets 262,197 887,627 422,362
Net assets 1,737,388 2,523,377 2,016,574
EQUITY
Ordinary shares 5 28,982,676 28,982,676 28,498,94
Share premium 28,788,377 28,788,377 27,237,329
Merger reserve 106,148 106,148 106,148
Other reserves 5,869,926 5,761,496 5,240,503
Retained earnings (62,009,739) (61,115,320) (59,065,900)
Total equity 1,737,388 2,523,377 2,016,574
ImmuPharma plc
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIODED 30 JUNE 2023
Other
Other Other reserves Other
reserves reserves -Share reserves
Share Merger - - based - Retained
Ordinary premium Reserve Acquisition Translation payment Warrant Earning Total
shares GBP GBP Reserve Reserve reserve reserve GBPs Equity
GBP GBP GBP GBP GBP GBP
At 1 January
2022 28,498,494 27,237,329 106,148 (3,541,203) (1,344,657) 8,690,019 1,349,000 (56,581,633) 4,413,497
Loss for the
financial
period - - - - - - - (1,663,788) (1,663,788)
Exchange 16,350
differences - - - - - - - - 16,350
Share based
payments - - - - - 70,994 - - 70,994
Fair value
loss
on
investments - - - - - - - (614,068) (614,068)
Fair value
loss
on warrants - - - - - - - (206,411) (206,411)
At 30 June
2022
unaudited 28,498,494 27,237,329 106,148 (3,541,203) (1,328,307) 8,761,013 1,349,000 (59,065,900) 2,016,574
--------------- ------------ ---------- -------------- ---------------------- ----------- ----------- -------------- ---------------
At 1 January
2022 28,498,494 27,237,329 106,148 (3,541,203) (1,344,657) 8,690,019 1,349,000 (56,581,633) 4,413,497
Loss for the
financial
year - - - - - - (3,807,431) (3,807,431)
Exchange
differences - - - 79,104 - - - (79,104)
Share based
payments - - - - - 159,874 - - 159,874
New issue of
equity
capital 484,182 1,866,727 - - - - - - 2,350,909
Cost of new
issue
of equity
capital - (165,679) - - - - - - (165,679)
Fair value
loss
o n
investments - - - - - - - (519,977) (519,977)
Fair value
loss
on warrants - - - - - - - (206,279) (206,279)
Issue of
warrants (150,000) 369,359 - 219,359
At 31
December
2022 & 1
January
2023
audited 28,982,676 28,788,377 106,148 (3,541,203) (1,265,553) 8,849,893 1,718,359 (61,115,320) 2,523,377
--------------- ------------ ---------- -------------- ---------------------- ----------- ----------- -------------- ---------------
Loss for the
financial
period - - - - - - - (847,366) (1,663,788)
Exchange
differences - - - - (18,897) - - 16,350
Share split - -
Share based
payments - - - - - 127,327 - - 70,994
Fair value
loss
on
investments - - - - - - - (54,475) (614,068)
Fair value
gain
on warrants - - - - - - - 7,421 (206,411)
--------------- ------------ ---------- -------------- ---------------------- ----------- ----------- -------------- ---------------
At 30 June
2023
unaudited 28,982,676 28,788,377 106,148 (3,541,203) (1,284,450) 8,977,220 1,718,359 (62,009,739) 1,737,388
--------------- ------------ ---------- -------------- ---------------------- ----------- ----------- -------------- ---------------
ImmuPharma plc
CONSOLIDATED STATEMENT OF CASHFLOWS
FOR THE PERIODED 30 JUNE 2023
Note Unaudited Audited Unaudited
6 months Year 6 months
ended ended ended
30 June 31 December 30 June
2023 2022 2022
GBP GBP GBP
Cash flows from operating
activities
Cash used in operations 3 (990,977) (3,224,906) (1,966,598)
Tax received 338,992 879,877 343,246
Interest paid (932) (2,036) (922)
Net cash used in operating
activities (652,917) (2,347,065) (1,624,274)
Investing activities
Purchase of property,
plant and equipment - ( 106,009) -
Interest received 1,464 28,585 63
Net cash (used in)/generated
from investing activities 1,464 (77,424) 63
Financing activities
Decrease in bank overdraft (109) - -
New loans/(loan repayments) - - (470)
Settlements from Sharing
Agreement 184,951 362,500 143,273
Gross proceeds from issue - 2,350,909 -
of new share capital
Share capital issue costs - (165,679) -
Funds deferred per Sharing - (1,000,000) -
Agreement
Net cash generated from financing
activities 184,842 1,547,730 142,803
Net (decrease) in cash and
cash equivalents (466,612) (876,759) (1,481,408)
Cash and cash equivalents
at start of period 667,813 1,649,374 1,649,374
Effects of exchange rates
on cash and
cash equivalents 9,382 (104,802) 2,956
Cash and cash equivalents
at end of period 210,583 667,813 170,922
ImmuPharma plc
NOTES TO THE CONSOLIDATED INTERIM ACCOUNTS FOR THE PERIODED 30
JUNE 2023
1 ACCOUNTING POLICIES
Basis of preparation
The interim financial information in this report has been
prepared using accounting policies consistent with IFRS as adopted
by the United Kingdom. IFRS is subject to amendment and
interpretation by the International Accounting Standards Board
(IASB) and the IFRS Interpretations Committee and there is an
ongoing process of review and endorsement by the UK Endorsement
Board. The financial information has been prepared on the basis of
IFRS expected to be adopted by the United Kingdom and applicable as
at 31 December 2022. The Group has chosen not to adopt IAS 34
"Interim Financial Statements" in preparing the interim financial
information.
The accounting policies applied are consistent with those that
were applied to the financial statements for the year ended 31
December 2022.
Non-Statutory accounts
The financial information set out in this interim report does
not constitute the Group's statutory accounts, within the meaning
of Section 434 of the Companies Act 2006. The statutory accounts
for the year ended 31 December 2022 have been filed with Registrar
of Companies. The auditors reported on those accounts; their report
was unqualified, did not contain a statement under either Section
498 (2) or Section 498 (3) of the Companies Act 2006 but did
include emphasis of matter paragraph relating to the carrying value
of Parent Company's investment in subsidiaries and receivables due
from group undertakings, and a reference to which the auditor drew
attention by way of emphasis without qualifying their report in
respect of going concern.
ImmuPharma plc
NOTES TO THE CONSOLIDATED INTERIM ACCOUNTS FOR THE PERIOD ENDED
30 JUNE 2023
(Continued)
2 LOSS PER SHARE
Unaudited Audited Unaudited
6 months Year 6 months
ended ended ended
30 June 31 December 30 June
2023 2022 2022
GBP GBP GBP
Loss
Loss for the purposes of basic
and diluted loss per share
being net loss attributable
to equity shareholders (847,366) (3,807,431) (1,663,788)
Number of shares
Weighted average number of
ordinary shares for the purposes
of basic loss per share 333,403,115 302,912,903 284,984,933
Basic loss per share (0.25)p (1.26)p (0.58)p
Diluted loss per share (0.25)p (1.26)p (0.58)p
There is no difference between basic loss per share and diluted
loss per share as the share options and warrants are anti-dilutive.
Deferred shares are excluded from the loss per share calculation as
they have no attributable earnings.
ImmuPharma plc
NOTES TO THE CONSOLIDATED INTERIM ACCOUNTS FOR THE PERIOD ENDED
30 JUNE 2023
(Continued)
3 CASH USED IN OPERATIONS
Unaudited Audited Unaudited
6 months Year 6 months
ended ended ended
30 June 31 December 30 June
2023 2022 2022
GBP GBP GBP
Operating loss (1,298,417) (3,028,952) (1,669,511)
Depreciation & amortisation 58,787 117,563 86,639
Share based payments 127,327 159,874 288,826
Decrease/(increase) in trade
& other receivables 17,716 (132,392) 312,749
Increase/(decrease) in trade
& other payables 99,858 (296,384) (725,313)
Gain / (loss) on
foreign exchange 3,752 (45,554) 7,271
Cash used in operations (990,977) (3,224,906) (1,966,598)
4 Derivative Financial Asset
As part of the placement completed in March 2020, the Company
issued 13,000,000 new ordinary shares to Lanstead Capital
Investors L.P. ("Lanstead") at a price of 10p per share
for an aggregate subscription price of GBP1.3m before expenses.
In December 2021, the Company issued 20,000,000 new ordinary
shares to Lanstead at a price of 11p per share to raise
GBP2.2m before expenses. In the placement completed in August
2022, the Company issued 20,000,000 new ordinary shares
to Lanstead at a price of 5p per share to raise GBP1m gross.
All Subscriptions proceeds were pledged under Sharing Agreements,
under which Lanstead made and will continue to make, subject
to the terms and conditions of the respective Sharing Agreement,
monthly settlements to the Company that are subject to adjustment
upwards or downwards depending on the Company's share price
performance.
In December 2021 and August 2022 the Company also issued
1,400,000 new ordinary shares consecutively to Lanstead
as value payments in connection with the Share Subscriptions
and the Sharing Agreements. Monthly settlements under the
Sharing Agreement from March 2020 completed in June 2022.
The settlements from remaining Sharing Agreements (December
2021 and August 2022) will continue until 2024, completing
in March 2024 and August 2024 respectively.
At the end of the accounting period the amount receivable
has been adjusted to fair value based upon the share price
of the Company at that date. Any change in the fair value
of the derivative financial asset is reflected in the income
statement. As at 30 June 2023, the Company completed a calculation
of fair value of the derivative financial asset that resulted
in a finance gain of GBP142,439 (GBP174,742 loss at 30 June
2022), which was recorded in the income statement. The restatement
to fair value will be calculated at the end of each accounting
period during the course of each Sharing Agreement and will
vary according to the Company's share price performance.
ImmuPharma plc
NOTES TO THE CONSOLIDATED INTERIM ACCOUNTS FOR THE PERIOD ENDED
30 JUNE 2023
(Continued)
5 Issued share capital
At 30 June 2023, the Company had no limit on its authorised
share capital.
Allotted, called up 30 June 31 December 30 June 31 December
and fully paid 2023 No. 2022 No. 2023 GBP 2022 GBP
At start of year:
------------- ------------- ------------ -------------
Ordinary shares of GBP0.10
each
------------- ------------- ------------ -------------
Ordinary shares of GBP0.01
each 333,403,115 284,984,933 3,334,032 2,849,849
------------- ------------- ------------ -------------
Deferred shares of GBP0.09
each 284,984,933 284,984,933 25,648,644 25,648,644
------------- ------------- ------------ -------------
Movements during period:
------------- ------------- ------------ -------------
Shares issued on 23
December 2021
------------- ------------- ------------ -------------
Shares issued on 16
August 2022 - 42,418,182 - 424,183
------------- ------------- ------------ -------------
Shares issued on 30
August 2022 - 1,000,000 - 10,000
------------- ------------- ------------ -------------
Shares issued on 5 September
2022 - 2,000,000 - 20,000
------------- ------------- ------------ -------------
Shares issued on 13
September 2022 - 3,000,000 - 30,000
------------- ------------- ------------ -------------
At end of the period 618,388,048 618,388,048 28,982,676 28,982,676
------------- ------------- ------------ -------------
6. Subsequent events
Successful fundraising, see separate announcement issued
today
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