Bell Potter cuts PT on Australia's Immutep over cancer drug futility

Immutep

04/09/2025 06:36

** Bell Potter cuts PT on Immutep IMM.AX to A$0.46 from A$0.70, citing "heavily risk-adjusted discounted cash flow analysis" in lung cancer futility

** However, new PT does not factor in other potential indications for cancer drug eftilagimod alfa or autoimmune candidate IMP761, which brokerage says could offer additional upside

** Sees "multi-fold upside potential" if eftilagimod alfa's Phase 3 trial succeeds; but notes additional time, funding, clinical data needed

** Maintains "buy (speculative)"

** IMM flat at A$0.24; falls 34.3% YTD

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))