Immuron (IMRN) AI Stock Analysis

• Market Cap: $11.45M
• Dividend Yield: N/A
• Average Volume (3M): 75.95K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.33
• Revenue Growth: 47.17%
• EPS Growth: 26.84%
• Country: US
• Employees: 7
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): >-0.01
• Shares Outstanding: 6,946,222
• 10 Day Avg. Volume: 112,552
• 30 Day Avg. Volume: 75,952
• PEG Ratio: 0.11
• Price to Book (P/B): 1.89
• Price to Sales (P/S): 2.09
• P/FCF Ratio: -2.49
• Enterprise Value/Market Cap: 0.55
• Enterprise Value/Revenue: 0.58
• Enterprise Value/Gross Profit: 0.88
• Enterprise Value/Ebitda: -0.78
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: $1.50 ▲(47.06% Upside)

Immuron's stock score is primarily impacted by its poor financial performance and bearish technical indicators. The company's negative profitability and cash flow challenges are significant concerns. The technical analysis suggests oversold conditions, but the lack of positive valuation metrics further weighs down the score.

Positive Factors

Research Collaboration

The collaboration with military research institutes for vaccine development enhances Immuron's R&D capabilities, potentially leading to innovative products and strengthening its competitive position.

Revenue Growth

Strong sales growth, particularly for Travelan®, indicates effective marketing strategies and expanding market presence, supporting long-term revenue generation.

Financial Flexibility

Expanding the ATM offering enhances financial resources, providing capital to support operational and development activities, thus improving financial flexibility.

Negative Factors

Negative Cash Flow

Negative cash flows indicate financial strain, limiting the company's ability to invest in growth opportunities and sustain operations without external funding.

Declining Revenue

Declining revenue growth reflects challenges in maintaining sales momentum, potentially impacting long-term profitability and market competitiveness.

Negative Profit Margins

Deeply negative profit margins highlight operational inefficiencies and financial challenges, which could hinder sustainable growth and profitability.

Immuron Business Overview & Revenue Model

Company Description

Immuron Limited, a biopharmaceutical company, researches, develops, and commercializes polyclonal antibodies in Australia, the United States, and internationally. The company operates through two segments, Research and Development, and Hyperimmune Products. It markets Travelan, an over-the-counter medicine to reduce the risk of travelers' diarrhea and reduce the symptoms of minor gastro-intestinal disorders, as well as for dietary supplement for digestive tract protection; and Protectyn, an immune supplement to maintain a healthy digestive function and liver. The company is also developing Travelan (IMM-124E) that is in Phase III clinical trials to reduce the risk of contracting travelers' diarrhea, as well as acts as an anti-viral activity against SARS-CoV-2; and IMM-529, which is in clinical development stage focuses on 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 ETEC 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 based in Carlton, Australia.

How the Company Makes Money

Immuron generates revenue primarily through the sale of its products, notably Travelan, which is marketed to consumers as a preventative measure against gastrointestinal infections while traveling. The company also engages in research and development collaborations and licensing agreements that can provide additional revenue streams through upfront payments, milestone payments, and royalties from the commercialization of its products. Partnerships with other pharmaceutical companies and research institutions can enhance its R&D capabilities, potentially leading to new product developments that can contribute to future earnings.

Immuron Financial Statement Overview

Summary

Immuron faces significant financial challenges, with declining revenues and persistent losses impacting profitability. While the company maintains low leverage, its negative cash flows and return on equity highlight operational inefficiencies. The biotechnology industry often involves high R&D costs, which may contribute to these financial pressures.

Income Statement

The company has experienced declining revenue growth, with a negative growth rate of -11% in the latest period. Gross profit margins remain relatively stable at around 65%, but net profit margins are deeply negative, indicating significant losses. The EBIT and EBITDA margins are also negative, reflecting operational challenges.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.0145, suggesting minimal leverage, which is a positive aspect. However, the return on equity is negative, indicating that the company is not generating profits from its equity base. The equity ratio is not provided, but the low debt levels suggest a conservative capital structure.

Cash Flow

Operating cash flow and free cash flow are both negative, with a significant decline in free cash flow growth at -31.37%. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is stable at 1.0, suggesting that cash losses are in line with accounting losses.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.93M	7.29M	4.90M	1.80M	765.19K	145.78K
Gross Profit	7.15M	4.77M	3.34M	1.74M	523.50K	-665.06K
EBITDA	-8.05M	-5.31M	-5.17M	-3.36M	-3.09M	-7.95M
Net Income	-7.86M	-5.22M	-6.94M	-3.79M	-2.85M	-8.38M
Balance Sheet
Total Assets	10.09M	10.09M	15.55M	21.99M	24.86M	27.05M
Cash, Cash Equivalents and Short-Term Investments	5.87M	5.87M	11.66M	18.99M	22.11M	25.05M
Total Debt	117.13K	117.13K	173.50K	189.09K	209.79K	20.50K
Total Liabilities	2.06M	2.06M	2.84M	2.37M	1.68M	1.16M
Stockholders Equity	8.03M	8.03M	12.71M	19.62M	23.18M	25.90M
Cash Flow
Free Cash Flow	-9.21M	-6.14M	-5.88M	-2.50M	-3.14M	-3.05M
Operating Cash Flow	-9.21M	-6.14M	-5.88M	-2.49M	-3.13M	-3.05M
Investing Cash Flow	-4.35M	-2.90M	327.56K	-2.74M	11.74K	―
Financing Cash Flow	299.62K	199.75K	829.00	-35.02K	-36.26K	19.76M

Immuron Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMRN, the sentiment is Negative. The current price of 1.02 is below the 20-day moving average (MA) of 1.53, below the 50-day MA of 1.82, and below the 200-day MA of 1.80, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 21.82 is Positive, neither overbought nor oversold. The STOCH value of 6.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IMRN.

Immuron Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CANF	43 Neutral	$15.60M	―	―	―	―	―
LPCN	43 Neutral	$18.32M	―	-32.92%	―	-44.31%	-34.17%
ADAP	41 Neutral	―	―	-1341.37%	―	-53.61%	-93.14%
IMRN	38 Underperform	$11.45M	-2.58	-49.00%	―	47.17%	26.84%
BIVI	38 Underperform	$11.57M	-0.10	-94.79%	―	―	84.44%

Immuron Corporate Events

Immuron Reports Strong FY2025 Results and Outlines FY2026 Plans

On November 11, 2025, Immuron Limited announced the results of its Annual General Meeting and shared a CEO address. The company highlighted significant financial achievements for FY2025, including a 49% increase in global sales revenue, driven by strong performance in Australia and North America. Additionally, Immuron reported progress in clinical achievements, such as FDA approval for IMM-529 IND and the completion of a successful Travelan® trial. Looking ahead, Immuron anticipates continued sales growth and further clinical developments in FY2026, including the initiation of a Phase 2 trial for IMM-529.

Immuron Limited Announces Quotation of New Securities on ASX

On November 7, 2025, Immuron Limited announced the application for quotation of 8,495,080 ordinary fully paid securities on the Australian Securities Exchange. These securities were issued as part of a previously announced transaction and purchased by US investors through the US At-The-Market facility. This move is expected to enhance the company’s capital structure and potentially strengthen its market position by increasing its financial flexibility.

Immuron Announces New Securities Issue to Boost R&D Funding

On November 6, 2025, Immuron Limited announced a proposed issue of 8,495,080 ordinary fully paid securities as part of a placement. The issue, priced at AUD 0.07560 per security, aims to fund further research and development activities and provide ongoing working capital. The shares were purchased by US investors through the company’s US At-The-Market facility, managed by H.C. Wainwright & Co. This strategic move is expected to bolster Immuron’s financial resources, enhancing its capacity to advance its R&D initiatives and maintain operational stability.

Immuron Announces New Securities Issue to Boost R&D

On October 17, 2025, Immuron Limited announced a proposed issue of 1,133,840 ordinary fully paid securities through a placement. This initiative aims to support the company’s research and development activities and provide ongoing working capital. The shares were purchased by US investors from Immuron’s US At-The-Market (ATM) facility, managed by H.C. Wainwright & Co., which is a low fee, no discount facility. This strategic move is expected to bolster Immuron’s financial resources, potentially enhancing its market position and operational capabilities.

Immuron Reports Strong Q1 FY26 Sales Growth Driven by Travelan®

On October 13, 2025, Immuron Limited announced significant sales growth for Q1 FY26, particularly for its product Travelan®. Global sales increased by 34% compared to the prior year, with notable growth in Australia (52%) and the USA (44%), attributed to enhanced marketing efforts and increased travel. However, Canadian sales saw a decline due to seasonal travel patterns, with expectations for improvement later in the year. This growth underscores Immuron’s strengthened market presence and the effectiveness of its marketing strategies.

Immuron Expands ATM Offering to Boost Financial Resources

On October 3, 2025, Immuron Limited announced an increase in the amount available for sale under its At The Market Offering Agreement with H.C. Wainwright & Co., LLC, raising the aggregate offering price to approximately $2,847,954. This strategic move is part of Immuron’s ongoing efforts to bolster its financial resources through the issuance and sale of American Depositary Shares (ADSs), which represent the company’s ordinary shares. The decision to expand the offering could potentially enhance Immuron’s market positioning by providing additional capital to support its operational and development activities.

Immuron Limited Secures Auditor Consent for Financial Filings

On September 30, 2025, Immuron Limited announced the consent of Grant Thornton Audit Pty Ltd, its independent registered accounting firm, to incorporate their audit report into the company’s registration statement on Form F-3. This consent facilitates the inclusion of Immuron’s financial statements, dated June 30, 2025, into future filings, potentially impacting investor relations and compliance with regulatory requirements.

Immuron Limited Releases Corporate Governance Statement

On September 25, 2025, Immuron Limited announced the publication of its Appendix 4G and Corporate Governance Statement to the Australian Securities Exchange. This announcement highlights the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, reflecting its commitment to transparency and accountability. The release may impact stakeholders by reinforcing confidence in Immuron’s governance practices and potentially influencing investor perceptions positively.