Immutep Receives A$2.7 million R&D Tax Incentive from French Government
Immutep (ASX: IMM; NASDAQ: IMMP) announced a €1,804,341 (~A$2,693,046) cash payment from the French Government under the Crédit d’Impôt Recherche (CIR) scheme.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Immutep (ASX: IMM; NASDAQ: IMMP) announced a €1,804,341 (~A$2,693,046) cash payment from the French Government under the Crédit d’Impôt Recherche (CIR) scheme. This R&D tax incentive supports eligible expenditure incurred during the 2021 calendar year for research in Europe. The funds will be allocated for the ongoing global clinical development of eftilagimod alpha and the preclinical development of IMP761. Immutep also qualifies for Australian R&D tax rebates, enhancing its financial position for future projects.
Positive
- Received €1,804,341 (~A$2,693,046) R&D tax incentive from the French Government.
- Funding will support the clinical development of eftilagimod alpha and preclinical development of IMP761.
Negative
- None.
Details
News Market Reaction – IMMP
The recorded move for IMMP in the trading session of this news was -4.47%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SYDNEY, AUSTRALIA, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Immutep Limited (ASX: IMM; NASDAQ: IMMP) ("Immutep“ or “the Company”), a biotechnology company developing novel LAG-3 related immunotherapy treatments for cancer and autoimmune diseases, is pleased to announce it has received a
The “Crédit d’Impôt Recherche” (CIR), meaning “Research Tax Credit”, is a French government tax incentive by which French companies conducting research and development activities in Europe can be reimbursed
Immutep qualifies to receive the CIR tax incentive through its subsidiary Immutep S.A.S. due to the research and development conducted in its laboratory in France. The cash payment is provided in respect of expenditure incurred on eligible R&D activities conducted in the European Union in the 2021 calendar year. Immutep also qualifies for cash rebates from the Australian Federal Government’s R&D tax incentive program in respect of expenditure incurred on eligible R&D activities conducted in Australia.
The funds will be used to support the ongoing and planned global clinical development of eftilagimod alpha and the preclinical development of IMP761.
About Immutep
Immutep is a globally active biotechnology company that is a leader in the development of LAG-3 related immunotherapeutic products for the treatment of cancer and autoimmune disease. Immutep is dedicated to leveraging its technology and expertise to bring innovative treatment options to market for patients and to maximize value to shareholders. Immutep is listed on the Australian Securities Exchange (IMM), and on the NASDAQ (IMMP) in the United States.
Immutep’s current lead product candidate is eftilagimod alpha (“efti” or “IMP321”), a soluble LAG-3 fusion protein (LAG-3Ig), which is a first-in-class antigen presenting cell (APC) activator being explored in cancer and infectious disease. Immutep is also developing an agonist of LAG-3 (IMP761) for autoimmune disease. Additional LAG-3 products, including antibodies for immune response modulation, are being developed by Immutep’s large pharmaceutical partners.
Further information can be found on the Company’s website www.immutep.com or by contacting:
Australian Investors/Media:
Catherine Strong, Citadel-MAGNUS
+61 (0)406 759 268; cstrong@citadelmagnus.com
U.S. Media:
Tim McCarthy, LifeSci Advisors
+1 (212) 915.2564; tim@lifesciadvisors.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.