LONDON (ShareCast) - (Sharecast News) - ImmuPharma confirmed on Friday that discussions about the best route forward for its Lupuzor drug are ongoing with various potential partners as the company posted a rise in annual losses.
The drug, a treatment for the autoimmune disease Lupus, recently saw the return of inconclusive results from a final-phase assessment as the trial failed to reach its primary endpoint, but ImmuPharma believes the drug has a part to play in the treatment regimen of sufferers.

However, a managed access programme has now been put on hold, leaving the company to discuss the best way forward for the drug with potential corporate partners and regulatory advisors.

Tim McCarthy, chairman of ImmuPharma, said: \"Following on from the Phase III results, we are focused on progressing Lupuzor and the P140 autoimmune platform. Our plans to combine and either divest, spin off or license Elro Pharma (Nucant) and Ureka (Peptide Platform) are planned to unlock value for shareholders.\"

The plans for ImmuPharma\'s Elro and Ureka will allow the AIM-traded drug developer to concentrate on its Lupuzor drug.

Top-line results showed a loss before tax of £8.0m for 2018 compared with a loss of £7.0m the year before, as revenue dropped 46% to £0.1m.

However, cash and cash equivalents stood at £4.9m at the end of the year, up from £2.7m a year earlier after the company successfully completed a share placing, raising £10m before expenses in January 2018.

ImmuPharma\'s shares were down 3.73% at 9.94p at 0856 BST.

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