Immutep Gets Nasdaq Warning, Discontinues Phase III Lung Cancer Trial, Holds A$110.6M
Immutep received a Nasdaq notice for failing to maintain a US$1.00 ADS bid price over 30 consecutive business days, gaining until October 26 to restore compliance. In Q3 FY26, it discontinued the Phase III TACTI-004 lung cancer trial for futility and held A$110.6 million cash, funding operations into H1 CY2028.
1. Nasdaq Bid Price Deficiency Notice
Immutep received a written notification from Nasdaq under Listing Rule 5450(a)(1) on April 30, 2026, for failing to maintain a minimum US$1.00 ADS closing bid price over 30 consecutive business days. The company has 180 calendar days, through October 26, to regain compliance by achieving at least US$1.00 per ADS for ten consecutive business days or face potential delisting actions.
2. Q3 FY26 Trial Discontinuation and Cash Position
For the quarter ended March 31, 2026, Immutep halted its Phase III TACTI-004 trial in first-line NSCLC after an independent futility analysis showed the eftilagimod alfa arm underperformed controls. The company reported A$110.6 million in cash, cash equivalents and term deposits, providing funding runway into the first half of calendar 2028.
3. Ongoing Programs and Next Steps
Immutep is conducting a root cause analysis of the TACTI-004 outcome, including data review and patient sample testing, with support from its licensing partner. Meanwhile, the Phase I IMP761 autoimmune program has entered the multiple ascending dose stage with no safety concerns and data expected at the EULAR Congress in June 2026, and other oncology trials continue follow-up.