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IMRN

Immuron Limited

IMRN

Immuron Limited • NASDAQ
$1.71 ▼ -2.29% (-0.04)
Market Cap $9.73 M
52w High $2.48
52w Low $1.42
Dividend Yield 0%
P/E -2.9
Volume 6.29K
Outstanding Shares 5.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $3.293M ▲ $4.951M ▲ $-2.764M ▼ -83.956% ▼ $-0.47 ▼ $-2.852M ▼
Q3-2025 $1.646M ▼ $2.457M ▼ $-1.364M ▲ -82.826% ▼ $-0.23 ▲ $-1.397M ▲
Q2-2025 $3.994M ▲ $5.196M ▲ $-2.489M ▼ -62.309% $-0.43 ▼ $-2.536M ▼
Q1-2025 $1.997M ▼ $2.598M ▼ $-1.244M ▲ -62.309% ▲ $-0.22 ▲ $-1.268M ▲
Q4-2024 $2.547M $5.538M $-4.864M -190.94% $-0.86 $-3.358M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $5.867M $10.093M ▼ $2.061M ▼ $8.032M ▼
Q3-2025 $5.867M ▼ $10.13M ▼ $2.061M ▲ $8.069M ▼
Q2-2025 $7.736M $12.17M $1.83M $10.34M
Q1-2025 $7.736M ▼ $12.17M ▼ $1.83M ▼ $10.34M ▼
Q4-2024 $11.657M $15.55M $2.841M $12.709M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-2.764M ▼ $-2.144M ▼ $-2.954M ▼ $241.65K ▲ $0 $-2.144M ▼
Q3-2025 $-1.364M ▲ $-1.072M ▲ $-1.477M ▼ $120.825K ▲ $0 $-1.072M ▲
Q2-2025 $-2.489M ▼ $-3.993M ▼ $53.994K ▲ $-41.902K ▼ $0 $-3.993M ▼
Q1-2025 $-1.244M ▲ $-1.997M ▼ $26.997K ▼ $-20.951K ▼ $0 ▲ $-1.997M ▼
Q4-2024 $-2.432M $-1.938M $87.027K $12K $-15.213M $-1.938M

Five-Year Company Overview

Income Statement

Income Statement Immuron still looks very much like an early-stage biotech from the income statement. Revenue is tiny and only recently started to show up, so the business is not yet commercially scaled. The company is consistently loss-making, though the size of the losses is relatively small in absolute terms. Earnings per share have stayed in negative territory every year, which is typical for a research‑heavy biotech that is funding development rather than generating steady product sales. Overall, the business model is still in the investment phase, not yet in a mature, profit-generating stage.

Balance Sheet

Balance Sheet The balance sheet is small but relatively clean. The company holds a modest amount of cash and assets and, importantly, shows no financial debt, which reduces financing risk. Equity remains positive, but it has been gradually eroding as losses accumulate. The main concern is not leverage, but the limited size of the asset and cash base: it suggests a thin financial cushion if development or commercialization takes longer than expected. Future capital raises are a realistic possibility for continued funding.

Cash Flow

Cash Flow Cash flow patterns match a typical early biotech profile: operating cash flow is negative, reflecting ongoing research, clinical work, and overheads without meaningful offsetting revenue. Free cash flow is also negative, though there is essentially no heavy spending on physical assets. The main cash use is funding operations, not building factories or equipment. Sustainability of this cash burn depends on access to new funding rather than internally generated cash at this stage.

Competitive Edge

Competitive Edge Competitively, Immuron occupies a narrow but distinctive niche. Its focus on orally delivered polyclonal antibodies for gut-related infections and conditions sets it apart from many traditional antibiotic or vaccine developers. The company benefits from proprietary know‑how around hyper‑immune bovine colostrum, a first‑mover position in this small segment, existing manufacturing capabilities, and growing regulatory experience in multiple countries. Travelan gives it a commercial foothold and brand presence in travelers’ diarrhea prevention, and the company has built relationships with military and academic partners. The flip side is that it is a small player operating in markets where much larger pharmaceutical and consumer health companies can compete if they choose, so scale and marketing reach remain structural challenges.

Innovation and R&D

Innovation and R&D Innovation is the core of Immuron’s story. Its platform turns vaccinated cows’ colostrum into oral antibody products that survive in the gut and directly neutralize harmful microbes. This creates a flexible base for multiple applications: travel-related diarrhea, immune and digestive support, irritable bowel symptoms, and more serious infections like C. difficile. The company is running and planning clinical trials, including work with the U.S. military and collaborations with universities, which help build scientific credibility and may expand product claims over time. However, most value is still tied to future trial results and regulatory decisions, which introduces significant scientific and development risk.

Summary

Immuron is a very small, research‑driven biotech with an innovative but still early‑stage commercial model. Financially, it has minimal revenue, ongoing but modest losses, negative cash flow, and a small cash and asset base, offset somewhat by the absence of debt. Strategically, it has carved out a differentiated position in oral antibody therapies for gut health, supported by patents, specialized manufacturing, and growing clinical collaborations. The company’s future hinges on successfully converting its platform and pipeline—particularly products like IMM‑529 and expanded Travelan indications—into larger, more reliable revenue streams before its limited financial resources require substantial new funding. Uncertainty remains high, as is typical for small biotechs, with both scientific upside and financing and execution risks in play.

NEWS

November 5, 2025 · 6:00 AM UTC

Immuron IMM-529 IND approved by FDA

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October 17, 2025 · 11:07 AM UTC

Emerging Growth Research Initiates Coverage on Immuron Limited with a Buy-Extended Rating and $4.00 Price Target

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October 13, 2025 · 6:00 AM UTC

Immuron Q1 FY26 YoY growth

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October 8, 2025 · 6:00 AM UTC

Immuron Submits IMM-529 IND to FDA

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October 2, 2025 · 6:00 AM UTC

Immuron Letter to Shareholders – Projects Update

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