Immutep's successful completion of institutional placement and entitlement offer

Immutep Limited (ASX: $IMM) has successfully concluded its institutional placement and the institutional component of its entitlement offer, raising approximately A$89.6 million at an offer price of A$0.38 per New Share. The institutional offer, which closed on 4 June 2024, received strong support from eligible institutional investors, with a take-up rate of approximately 100%.

Executive commentary on Immutep's recent achievements

Immutep's Chairman, Dr Russell Howard, expressed delight at the strong support from shareholders and the successful financing. He highlighted the company's progress in delivering its late-stage clinical program in lung, breast, and head and neck cancer. Dr Howard emphasized the outstanding efficacy and safety data, reinforcing the belief in the promising future of their product, efti, especially in combination with other cancer therapeutics. He also welcomed new institutional investors to the share register and emphasized the numerous milestones ahead for Immutep.

Summary of Immutep's institutional placement and entitlement offer

Immutep's institutional placement and institutional component of the entitlement offer have raised approximately A$89.6 million, with strong support from existing and new institutional investors. The company expects the new shares subscribed for under the institutional offer to be settled on 11 June 2024 and issued on 12 June 2024. Additionally, the retail component of the fully underwritten entitlement offer is set to open on 7 June 2024. Immutep's dedication to advancing therapeutics related to Lymphocyte Activation Gene-3 (LAG-3) for cancer and autoimmune disease is evident in its successful financing, and the company looks forward to achieving its milestones and maximizing value for shareholders.