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Immuron Limited (AU:IMC)
ASX:IMC

Immuron Limited (IMC) AI Stock Analysis

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AU:IMC

Immuron Limited

(Sydney:IMC)

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Neutral 44 (OpenAI - 5.2)
Rating:44Neutral
Price Target:
AU$0.04
▼(-2.50% Downside)
The score is primarily held back by weak financial quality—ongoing losses and negative operating/free cash flow—despite revenue growth and low leverage. Technicals also detract, with the stock trading below key moving averages and a negative MACD. Valuation provides limited support because the negative P/E reflects unprofitable operations and no dividend yield is available.
Positive Factors
Revenue Growth
Sustained top-line growth indicates product traction and market demand for the company’s offerings. Over 2–6 months this durable revenue trend supports reinvestment in commercialization and R&D, improving the odds of scaling sales and attracting partnership or licensing opportunities.
Low Leverage
Very low financial leverage reduces refinancing and interest-service risk, preserving balance-sheet flexibility. This structural strength gives management optionality to fund pipeline development via partnerships or equity, improving resilience through industry cycles and enabling strategic investments.
Commercial Product and Partnership Pathways
Having an existing commercial product sold in multiple markets provides proven go-to-market capability and recurring revenue potential. This durable commercial base lowers pure clinical binary risk and supports future licensing, collaboration or geographic expansion to diversify revenue streams.
Negative Factors
Negative Cash Flow
Persistent negative operating and free cash flow indicates ongoing cash burn and weak internal funding of operations. Over months this reduces runway, raises dependence on external financing, and can delay R&D or commercialization milestones if new capital or partnerships are not secured.
Unprofitable Operations and Weak Margins
Ongoing losses and negative operating margins undermine the company's ability to self-fund growth and reduce long-term sustainability. Structural unprofitability pressures management to improve margins or seek capital, increasing dilution or financing risk and challenging durable value creation.
Very Small Workforce
A very small employee base constrains internal capacity for commercial expansion, regulatory management, and parallel R&D programs. Over a multi-month horizon this structural limitation forces reliance on external partners or contractors, which can slow execution and increase ongoing operating costs.

Immuron Limited (IMC) vs. iShares MSCI Australia ETF (EWA)

Immuron Limited Business Overview & Revenue Model

Company DescriptionImmuron Limited, a biopharmaceutical company, engages in the research, development, and commercialization of polyclonal antibodies in Australia, Israel, Canada, the United States, and internationally. The company operates through two segments, Research and Development, and Hyperimmune Products. It offers Travelan, an over-the-counter medicine to reduce the risk of travelers' diarrhea and risk of minor gastrointestinal disorders, as well as a dietary supplement for support digestive health and gastrointestinal tract protection; and Protectyn, an immune supplement to help maintain a healthy digestive function and liver. The company is also developing Travelan (IMM-124E) that is in Phase III registration trial to reduce the risk of contracting travelers' diarrhea in the United States, and Phase II field trial for Travelers' Diarrhea, as well as acts as an anti-viral activity against SARS-CoV-2; and IMM-529, which is in Phase I/IIa clinical trial for treating patients suffering from recurring clostridium difficile infection. It has a research agreement with Naval Medical Research Center to develop and clinically evaluate a therapeutic targeting Campylobacter and enterotoxigenic Escherichia coli infections; and a collaboration agreement with the Walter Reed Army Institute of Research to develop an oral therapeutic for shigellosis. Immuron Limited was incorporated in 1994 and is headquartered in Carlton, Australia.
How the Company Makes MoneyImmuron Limited generates revenue primarily through the sale of its product, Travelan, which is marketed in several countries as a preventative treatment for travelers' diarrhea. The company also engages in research and development collaborations, which may include partnerships with other pharmaceutical companies or research institutions to develop its pipeline products. Revenue streams may further include grants, licensing agreements, and potential royalties from future product sales. Additionally, strategic partnerships can enhance funding opportunities and broaden market access, contributing to the company's overall earnings.

Immuron Limited Financial Statement Overview

Summary
Immuron Limited demonstrates revenue growth, but profitability and cash flow remain significant challenges. The low debt levels provide some stability, but the company needs to improve its operational efficiency and cash generation to enhance financial health.
Income Statement
45
Neutral
Immuron Limited shows a positive revenue growth rate of 11.39% in the latest year, indicating potential for future growth. However, the company struggles with profitability, as evidenced by negative net profit and EBIT margins, which suggest ongoing operational challenges.
Balance Sheet
50
Neutral
The company maintains a low debt-to-equity ratio of 0.0145, reflecting conservative leverage. However, the negative return on equity indicates that the company is not generating sufficient returns on its equity investments, which could be a concern for investors.
Cash Flow
40
Negative
Operating cash flow and free cash flow are both negative, indicating cash flow challenges. The free cash flow to net income ratio of 1.0 suggests that the company is not generating additional free cash flow beyond its net income, which limits financial flexibility.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue8.93M7.29M4.90M1.80M765.19K145.78K
Gross Profit5.82M4.77M3.34M1.31M523.50K94.70K
EBITDA-6.70M-5.31M-6.19M-3.80M-3.08M-8.33M
Net Income-6.58M-5.22M-6.94M-3.79M-2.85M-8.38M
Balance Sheet
Total Assets10.13M10.13M15.55M21.99M24.86M27.05M
Cash, Cash Equivalents and Short-Term Investments5.87M5.87M11.66M18.99M22.11M25.05M
Total Debt117.13K117.13K173.50K189.09K209.79K20.50K
Total Liabilities2.06M2.06M2.84M2.37M1.68M1.16M
Stockholders Equity8.07M8.07M12.71M19.62M23.18M25.90M
Cash Flow
Free Cash Flow-7.21M-6.14M-5.56M-2.50M-3.14M-4.09M
Operating Cash Flow-7.21M-6.14M-5.56M-2.49M-3.13M-4.08M
Investing Cash Flow-4.46M-2.90M327.56K-2.74M11.74K2.57K
Financing Cash Flow323.86K199.75K829.00-35.02K-36.26K26.49M

Immuron Limited Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price0.04
Price Trends
50DMA
0.05
Negative
100DMA
0.07
Negative
200DMA
0.07
Negative
Market Momentum
MACD
>-0.01
Negative
RSI
43.19
Neutral
STOCH
47.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IMC, the sentiment is Neutral. The current price of 0.04 is above the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.05, and below the 200-day MA of 0.07, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.19 is Neutral, neither overbought nor oversold. The STOCH value of 47.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:IMC.

Immuron Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
49
Neutral
AU$53.21M-11.90-16.65%-672.73%
46
Neutral
AU$25.72M-5.09-157.93%-36.89%
44
Neutral
AU$13.07M-1.73-49.96%48.63%25.66%
44
Neutral
AU$36.73M-9.09-143.71%306.88%
40
Underperform
AU$4.39M-1.35-205.70%1.03%
37
Underperform
AU$13.77M-1.61-628.72%31.87%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:IMC
Immuron Limited
0.04
-0.05
-54.65%
AU:NOX
Noxopharm Ltd.
0.09
<0.01
2.41%
AU:AVE
Avecho Biotechnology Limited
0.01
0.00
0.00%
AU:1AD
AdAlta Ltd.
0.01
-0.01
-50.00%
AU:ANR
Anatara Lifesciences Ltd
0.01
-0.04
-77.19%
AU:NSB
Neuroscientific Biopharmaceuticals Ltd.
0.15
0.11
275.00%

Immuron Limited Corporate Events

Immuron CEO to Spotlight Antibody Platform at Emerging Growth Conference
Jan 13, 2026

Immuron Limited has announced that its Chief Executive Officer, Steven Lydeamore, will deliver a virtual presentation at the Emerging Growth Conference on 22 January 2026, with the session to be made available via live webcast and archived online for later viewing. The appearance is expected to enhance the company’s visibility among growth-focused investors and stakeholders by showcasing its targeted antibody platform and portfolio of gastrointestinal and infectious disease-focused products, potentially strengthening its positioning in the global biopharmaceutical and travel health markets.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Calls Extraordinary Meeting to Ratify Major Share Issues and Restore Capital-Raising Headroom
Jan 12, 2026

Immuron Limited has called an extraordinary general meeting of shareholders for 12 February 2026 in Melbourne to seek approval for the ratification of two substantial prior share issuances. Shareholders will be asked to ratify the issue of 28,278,923 shares under ASX Listing Rule 7.1 and a further 26,821,997 shares under Listing Rule 7.1A, moves that effectively regularize past capital-raising activities and restore the company’s capacity to issue additional equity in the future. The resolutions, if approved, will support Immuron’s flexibility in accessing capital markets going forward, which is significant for its ongoing funding needs and could influence future dilution, governance considerations, and the company’s ability to finance its development and commercial objectives.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Issues New Shares in Compliance with Corporations Act
Dec 16, 2025

Immuron Limited has announced the issuance of 314,843 ordinary shares without disclosure under Part 6D.2 of the Corporations Act, in compliance with relevant provisions. This move is part of the company’s ongoing efforts to maintain transparency and adhere to regulatory requirements, potentially impacting its market positioning and stakeholder relations positively.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Announces Quotation of New Securities on ASX
Dec 16, 2025

Immuron Limited has announced the application for quotation of 314,843 ordinary fully paid securities on the Australian Securities Exchange (ASX), with an issue date of December 16, 2025. This move is part of the company’s strategic efforts to enhance its market presence and potentially increase its capital base, which could have implications for its operational capabilities and stakeholder interests.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Issues Over 1 Million New Shares
Dec 15, 2025

Immuron Limited has issued 1,142,909 ordinary shares without disclosure under Part 6D.2 of the Corporations Act, in compliance with relevant legal provisions. This issuance indicates the company’s adherence to regulatory requirements and suggests a strategic move to potentially enhance its financial position and operational capabilities.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited to Quote New Securities on ASX
Dec 15, 2025

Immuron Limited has announced the issuance of 1,142,909 ordinary fully paid securities, which are set to be quoted on the Australian Securities Exchange (ASX) as of December 15, 2025. This move is part of the company’s strategy to enhance its market presence and potentially increase liquidity, reflecting its ongoing efforts to strengthen its financial position and operational capabilities.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Issues New Shares to Bolster Financial Position
Dec 11, 2025

Immuron Limited has announced the issuance of 1,874,964 ordinary shares without disclosure under Part 6D.2 of the Corporations Act, in compliance with relevant legal provisions. This strategic move is part of the company’s efforts to strengthen its financial position, potentially impacting its operational capabilities and market presence.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Responds to USU Clinical Trial Results, Reaffirms Travelan® Dosing
Dec 9, 2025

Immuron Limited announced that the Uniformed Services University released topline results from a clinical trial evaluating a third-party manufactured product containing ETEC hyperimmune bovine colostrum. The trial did not achieve statistical significance for its primary endpoint, and the product was not administered according to Travelan® directions. As a result, Immuron does not consider these results reflective of Travelan®’s performance. The company plans to propose its established three-times-daily dosing schedule at an upcoming FDA meeting. Immuron continues to collaborate with military research institutions on vaccines and is advancing discussions for testing Travelan® against other E. coli strains.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Announces Quotation of New Securities on ASX
Dec 4, 2025

Immuron Limited announced the quotation of 45,472,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) as part of previously announced transactions. This move is expected to enhance the company’s market presence and provide additional capital for its ongoing projects, potentially impacting its operational capabilities and stakeholder interests positively.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Announces Proposed Securities Issue
Dec 4, 2025

Immuron Limited has announced a proposed issue of 45,472,000 ordinary fully paid securities, with the issue date set for December 5, 2025. This move is part of a placement or other type of issue, which could potentially impact the company’s market positioning by increasing its capital base and providing additional resources for its operations.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Transitions Share Registry Services to Boardroom Pty Limited
Dec 3, 2025

Immuron Limited announced a change in its share registry management services, transitioning from Automic Group to Boardroom Pty Limited effective December 8, 2025. This strategic move is expected to streamline the company’s administrative processes, potentially enhancing operational efficiency and stakeholder relations.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Secures U.S. Defense Award for Diarrheal Disease Therapeutics
Dec 3, 2025

Immuron Limited has announced a new research agreement funded by the U.S. Department of Defense to develop two oral therapeutics targeting Campylobacter and Shigella, in collaboration with the Naval Medical Research Command and the Walter Reed Army Institute of Research. This initiative aims to produce hyper-immune bovine colostrum products for the U.S. military, addressing the significant global burden of diarrheal diseases, which impact military readiness and global health. Additionally, Immuron is preparing to release results from a clinical trial on the effectiveness of its ETEC hyperimmune bovine colostrum in maintaining gut health during deployment and travel, highlighting its ongoing efforts to combat antibiotic-resistant enteric pathogens.

The most recent analyst rating on (AU:IMC) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Immuron Limited stock, see the AU:IMC Stock Forecast page.

Immuron Limited Director Increases Stake with Shareholder Approval
Nov 21, 2025

Immuron Limited announced a change in the director’s interest notice, specifically regarding Ravi Savarirayan. On November 18, 2025, Ravi Savarirayan acquired an additional 1,000,000 unlisted options, increasing his direct holdings to 2,000,000 options. This change was approved by shareholders during the company’s Annual General Meeting on November 11, 2025, indicating shareholder support for the director’s increased stake.

Immuron Limited Announces Director’s Interest Change
Nov 21, 2025

Immuron Limited announced a change in the director’s interest, with Paul Brennan acquiring 1,000,000 unlisted options, increasing his direct holdings to 2,000,000 options. This change was approved by shareholders during the company’s Annual General Meeting, potentially strengthening the alignment of the director’s interests with the company’s strategic goals.

Immuron Limited Announces Director’s Increased Interest in Securities
Nov 21, 2025

Immuron Limited announced a change in the director’s interest, with Dr. Jeannette Joughin acquiring an additional 1,000,000 unlisted options, bringing her total to 2,000,000. This change was approved by shareholders at the company’s Annual General Meeting, indicating a strategic alignment with the company’s growth objectives and potentially impacting its market positioning.

Immuron Limited Announces Director’s Interest Change
Nov 21, 2025

Immuron Limited announced a change in the director’s interest, with Daniel Pollock acquiring an additional 1,000,000 unlisted options, as approved by shareholders at the company’s Annual General Meeting. This change reflects the company’s ongoing efforts to align its leadership’s interests with its strategic goals, potentially impacting its market positioning and stakeholder confidence.

Immuron Limited Issues 4 Million Unquoted Securities Under Incentive Scheme
Nov 17, 2025

Immuron Limited has announced the issuance of 4,000,000 unquoted securities under an employee incentive scheme, which are subject to transfer restrictions until the end of the restriction period. This move could potentially enhance employee engagement and align interests with company performance, impacting the company’s operational dynamics and stakeholder relations.

Immuron Limited Passes All Resolutions at 2025 AGM
Nov 11, 2025

Immuron Limited announced that all resolutions proposed at its 2025 Annual General Meeting were successfully passed by shareholders. This outcome supports the company’s strategic direction and may positively influence its operational and market positioning, reinforcing stakeholder confidence in its governance and future initiatives.

Immuron Limited CEO Highlights Strategic Focus at Annual General Meeting
Nov 11, 2025

Immuron Limited’s CEO, Steve Lydeamore, addressed the company’s Annual General Meeting, highlighting the company’s ongoing focus on developing innovative treatments for infectious diseases. The announcement underscores Immuron’s commitment to leveraging its unique platform technology to enhance its market position and deliver value to stakeholders.

Immuron Receives FDA Approval for Phase 2 Trial of CDI Treatment
Nov 5, 2025

Immuron Limited has received FDA approval for its Investigational New Drug (IND) application for IMM-529, allowing the company to proceed with a Phase 2 clinical trial targeting Clostridioides difficile infection (CDI). The trial aims to evaluate the safety and efficacy of IMM-529 as an adjunctive therapy with standard care, potentially positioning it as an early treatment option for CDI, a significant healthcare-associated infection. The development of IMM-529 addresses the urgent need for new therapeutics to reduce antibiotic reliance, with projections indicating a potential annual revenue of $400 million if successful.

Immuron Updates on Clinical Trials and FDA Interactions
Oct 31, 2025

Immuron Limited has provided an update on its clinical trials for Travelan® and IMM-529. The company’s IND application for IMM-529, aimed at preventing or treating Clostridioides difficile infection, is under review by the FDA, with minor updates submitted following a request for additional information. Additionally, the release of topline data from the Travelan® P2TD study has been delayed due to a U.S. government shutdown, impacting the company’s dosing strategy for an upcoming FDA meeting. The outcomes of these trials are crucial for Immuron’s strategic planning and could influence its market positioning and stakeholder interests.

Immuron Limited Announces Cessation of 500,000 Securities
Oct 27, 2025

Immuron Limited announced the cessation of 500,000 securities due to the expiry of options or other convertible securities without exercise or conversion as of October 26, 2025. This announcement may impact the company’s capital structure but does not indicate immediate changes in its operational strategies or market positioning.

Immuron Limited Launches PROIBS® for IBS Relief in Australia
Oct 24, 2025

Immuron Limited has launched PROIBS®, a new product aimed at treating symptoms of Irritable Bowel Syndrome (IBS) in the Australian market. This launch is strategically timed for the festive season when IBS symptoms are more prevalent. PROIBS® is a certified medical device containing AVH200®, derived from Aloe barbadensis, and is designed for long-term use without known medication interactions. The product has shown promising results in a usability study, with a high percentage of users reporting improvements. This addition to Immuron’s product line, which includes the successful Travelan® brand, is expected to strengthen its position in the digestive health market, which is projected to grow in Australia.

Immuron CEO to Present at Emerging Growth Conference
Oct 23, 2025

Immuron Limited announced that its CEO, Steven Lydeamore, will present at the Emerging Growth Conference, highlighting the company’s advancements in biopharmaceuticals. This presentation underscores Immuron’s commitment to leveraging its proprietary technology to address infectious diseases, potentially enhancing its market position and offering significant benefits to stakeholders.

Immuron CEO to Present at AusBiotech Invest 2025 Conference
Oct 21, 2025

Immuron Limited announced that its CEO, Steven Lydeamore, will present at the AusBiotech Invest 2025 conference, highlighting the company’s advancements in biopharmaceuticals. This presentation underscores Immuron’s commitment to leveraging its proprietary technology to address infectious diseases, potentially enhancing its market position and offering significant implications for stakeholders, particularly in the areas of travelers’ health and gastrointestinal treatments.

Immuron Limited Issues New Shares, Ensures Compliance
Oct 20, 2025

Immuron Limited has announced the issuance of 1,133,840 ordinary shares without disclosure under Part 6D.2 of the Corporations Act. The company confirms compliance with relevant provisions of the Corporations Act and states there is no excluded information requiring disclosure, indicating a transparent operational stance.

Immuron Limited Announces Quotation of New Securities on ASX
Oct 20, 2025

Immuron Limited has announced the quotation of 1,133,840 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of October 20, 2025. This move is part of previously announced transactions and could potentially enhance the company’s market presence and liquidity, impacting its operations and positioning within the biotechnology sector.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 15, 2026