Immutep Ltd. Files 20-F: Convertible Notes & Tax Insights
Ticker: PRRUF · Form: 20-F · Filed: Oct 22, 2024 · CIK: 1506184
| Field | Detail |
|---|---|
| Company | Immutep Ltd (PRRUF) |
| Form Type | 20-F |
| Filed Date | Oct 22, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $42.7 million, $39.9 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: 20-F, finance, tax
TL;DR
Immutep's 20-F is out: convertible notes, French tax breaks, and US income tax details. Check it out!
AI Summary
Immutep Ltd. filed its 20-F for the fiscal year ending June 30, 2024. The filing details non-cash financing activities, including the fair value movement of convertible notes and the exercise of performance rights. The company's French subsidiary benefits from a 10% corporate income tax rate, while US income tax expense relates to its US operations. Prepayments are primarily for insurance and clinical trial deposits.
Why It Matters
This filing provides investors with a comprehensive overview of Immutep's financial health and operational structure, including details on its tax strategy and financing activities.
Risk Assessment
Risk Level: medium — As a pharmaceutical company with ongoing clinical trials and convertible notes, Immutep faces inherent risks related to drug development, regulatory approvals, and financial instruments.
Key Numbers
- 10% — French Corporate Tax Rate (Favorable tax rate for Immutep's French subsidiary for FY24, FY23, and FY22.)
Key Players & Entities
- Immutep Ltd. (company) — Filer of the 20-F
- Prima BioMed Ltd (company) — Former name of Immutep Ltd.
- 20240630 (date) — Fiscal year end
- 10% (dollar_amount) — Corporate income tax rate in France
FAQ
What were the primary non-cash financing activities for Immutep Ltd. during the fiscal year ending June 30, 2024?
The primary non-cash financing activities included the fair value movement of convertible notes and the exercise of vested performance rights for no cash consideration.
What is the corporate income tax rate applicable to Immutep's subsidiary in France?
The corporate income tax rate applicable to the Immutep subsidiary in France is 10% for fiscal years 2024, 2023, and 2022.
What does the income tax expense for Immutep relate to?
The income tax expense relates to tax payable for the Immutep subsidiary in the United States.
What are the prepayments largely in relation to?
Prepayments are largely in relation to prepaid insurance and deposits paid to organizations involved in clinical trials.
What was Immutep Ltd.'s former company name?
Immutep Ltd.'s former company name was Prima BioMed Ltd, with a name change date of November 19, 2010.
Filing Stats: 4,473 words · 18 min read · ~15 pages · Grade level 14 · Accepted 2024-10-22 08:59:15
Key Financial Figures
- $42.7 million — , 2024, and 2023, we had net losses of A$42.7 million and A$39.9 million, respectively. We
- $39.9 m — e had net losses of A$42.7 million and A$39.9 million, respectively. We are a develop
Filing Documents
- d864549d20f.htm (20-F) — 3990KB
- d864549dex415.htm (EX-4.15) — 264KB
- d864549dex121.htm (EX-12.1) — 10KB
- d864549dex131.htm (EX-13.1) — 5KB
- d864549dex151.htm (EX-15.1) — 4KB
- d864549dex971.htm (EX-97.1) — 25KB
- g864549dsp01.jpg (GRAPHIC) — 10KB
- g864549g43p71.jpg (GRAPHIC) — 2KB
- g864549g44m01.jpg (GRAPHIC) — 131KB
- 0001193125-24-240773.txt ( ) — 18955KB
- immp-20240630.xsd (EX-101.SCH) — 145KB
- immp-20240630_cal.xml (EX-101.CAL) — 75KB
- immp-20240630_def.xml (EX-101.DEF) — 696KB
- immp-20240630_lab.xml (EX-101.LAB) — 747KB
- immp-20240630_pre.xml (EX-101.PRE) — 772KB
- d864549d20f_htm.xml (XML) — 4702KB
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 72 Item 12.
Description of Securities Other than Equity Securities
Description of Securities Other than Equity Securities 72 A. Debt Securities 72 B. Warrants and Rights 72 C. Other Securities 72 D. American Depositary Shares 73 PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 74 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 74 Item 15.
Controls and Procedures
Controls and Procedures 74 Item 16. Reserved 75 Item 16A. Audit Committee Financial Expert 75 Item 16B. Code of Ethics 75 Item 16C. Principal Accountant Fees and Services 75 Item 16D. Exemptions from the Listing Standards for Audit Committees 75 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 75 Item 16F. Change in Registrant's Certifying Accountant 75 Item 16G. Corporate Governance 76 Item 16H. Mine Safety Disclosure 76 Item 16I. Disclosure Regarding Foreign Jurisdiction that Prevent Inspections 76 Item 16J Insider Trading Policies 76 Item 16K Cybersecurity 76 PART III Item 17.
Financial Statements
Financial Statements 78 Item 18.
Financial Statements
Financial Statements 78 Item 19. Exhibits ii Table of Contents INTRODUCTION Immutep Limited (ABN 90 009 237 889) was incorporated under the laws of the Commonwealth of Australia on May 21, 1987. The principal listing of our ordinary shares is the Australian Securities Exchange, or ASX. We filed a registration statement on Form 20-F with respect to our ordinary shares with the U.S. Securities and Exchange Commission, or SEC, which was declared effective on April 12, 2012. Our American Depositary Shares, or ADSs, each of which represents 10 of our ordinary shares, are listed on the NASDAQ Global Market, or NASDAQ, under the symbol "IMMP". The Bank of New York Mellon acts as our depositary and registers and delivers our ADSs. As used in this Annual Report on Form 20-F, the terms "we," "us," "our", "Immutep" and the "Company" mean Immutep Limited and its subsidiaries, unless otherwise indicated. FINANCIAL AND OTHER INFORMATION Our consolidated financial statements appearing in this Annual Report on Form 20-F are prepared in Australian dollars and in accordance with the International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB. Our consolidated financial statements appearing in this Annual Report on Form 20-F comply with both the IFRS and Australian Accounting Standards. In this Annual Report, all references to "U.S. dollars" or "US
quot; are to the currency of the United States, all references to "euro", "" or "EUR" are to the currency of certain states of the European Union, all references to "" or "GBP" are to the currency of the United Kingdom and all references to "Australian dollars" or "quot; or "Aquot; are to the currency of Australia. In this Annual Report, "fiscal year" refers to the period between July 1 and June 30 of the following year.