London, July 5, 2026, 21:08 BST
- ImmuPharma plc LON:IMM finished Friday up 4.35% at 3.48p. The FTSE AIM All-Share slipped 0.17%.
- Shares closed 42% under the 6p price set in the April fundraising that raised £6.47 million.
- No July RNS showed up on the company’s updates page as of Sunday. The latest updates posted were the June 25 Bachem appointment and a June 24 P140 research note.
- Near term, the equity story hinges on P140 partnership talks and Kapiglucagon IND progress, not the slight rebound seen on Friday.
ImmuPharma plc LON:IMM heads into the week still facing a gap in its share price. Shares climbed Friday, but the AIM-listed biotech closed way under the price of its April funding round. London was closed Sunday. The exchange runs Monday to Friday, 8 a.m. to 4:30 p.m., so Friday’s close is the latest price.
The stock ended July 3 at 3.48p. That’s up 150.7% from the 52-week low of 1.39p, but still down 82.1% from the 52-week high of 19.40p. Market cap stood at £21.68 million with 623.91 million shares out, per LSEG data on Investors Chronicle.
| Market measure | Latest reading | Investor read-through |
|---|---|---|
| Friday close | 3.48p | Off the lows, but still a long way from last year’s pop |
| One-day move | +4.35% | Outperformed AIM index on Friday |
| FTSE AIM All-Share | -0.17% | Move tied to this stock, not wider sector |
| Bid / offer shown by AJ Bell | 3.315p / 3.705p | Spread works out to 11.1% at the midpoint |
| Volume | 2.21 million shares | Liquidity typical for a thin small-cap |
| Market value | £21.68 million | Still under four times what April’s placing raised |
The key comparison is to the April fundraise. ImmuPharma said in May it raised £6.47 million at 6p a share, with £6 million coming from a Lanstead Capital subscription and £0.47 million from a WRAP retail offer. Shares closed Friday 42% under that price. That gap is important since the money was supposed to fund the next stage for P140 and Kapiglucagon.
| Company data point | Figure | Market angle |
|---|---|---|
| 2025 loss | £1.8 million | Loss cut from £2.5 million last year |
| 2025 R&D expense | £1.3 million | Still main cash drain |
| Cash at Dec. 31, 2025 | £1.4 million | Does not count April raise |
| April 2026 raise | £6.47 million | Comes to roughly 30% of market value as of Friday |
| Raise price | 6p | Shares closed 42% lower on Friday |
| 2025 basic/diluted loss per share | 0.37p | Smaller than last year’s 0.60p |
CEO and Chairman Tim McCarthy said in the May results the company is “focused on securing a commercial partnership for P140 in 2026,” with near-term progress depending on key milestones. The company also said it is in active discussions with potential global partners for P140, its main autoimmune program. Investegate
Investors got another thread to track the week before last. On June 25, ImmuPharma named Bachem AG—part of Bachem Holding AG (SWX:BANB)—as its API manufacturing partner for Kapiglucagon, the company’s glucagon prodrug for Type 1 diabetes. ImmuPharma said picking a drug-product manufacturer is the next CMC step, with future FDA talks and, depending on progress, an IND submission also on the agenda.
ImmuPharma’s chief scientific officer Dr Sébastien Goudreau called Bachem’s hiring “an important CMC step” for Kapiglucagon. Back in May, Goudreau said the IND-enabling work starting with tranScrip was meant to drive the programme “towards first-in-human studies” and possible future deals. Mark Corbett, CEO of tranScrip, said the work brought together regulatory planning and FDA prep. Investegate
So two price triggers stay: P140 as the licensing asset, and Kapiglucagon as the newer one in development. ImmuPharma is looking at a U.S. 505(b)(2) approval for Kapiglucagon, but that still needs FDA sign-off. The company said Kapiglucagon aims for better solubility and stability, with potential in dual-hormone artificial pancreas systems.
The June 24 P140 headline didn’t announce a regulatory deal. It was a note on early University of Murcia work looking at the P140 peptide in glioblastoma. ImmuPharma said it’s tracked this research since 2024. The company also repeated that P140 is still aimed at autoimmune conditions.
Another public record gives investors something else to watch. Companies House had an “accounts overdue” notice up as of Sunday, with a deadline of June 30 for accounts to Dec. 31, 2025. ImmuPharma put out its 2025 results on May 27, and shareholders okayed the accounts at the June 25 AGM, with all six resolutions approved. Company Information Service
Traders will see on Monday if Friday’s 4.35% gain sticks in the absence of a new RNS. The next thing is whether the company can close its 6p funding-price gap with P140 partnership details or a clear move on the Kapiglucagon IND.
