Like many micro-cap companies, Immune Pharmaceuticals (NASDAQ:IMNP) has had to overcome the challenges of structured financings. Stock price and liquidity are key drivers for an early stage biotech company to raise sufficient capital to advance its pipeline. The good news is that IMNP finally has a clean cap table with no outstanding preferred shares, low percentage of warrants, and relatively low debt level. Additionally, IMNP has excellent daily liquidity. The reverse split is an option that IMNP will consider based on market conditions as well as company performance and prospects. IMNP will also consider the potential impact of any reverse split on the liquidity of the stock.

So how does IMNP finance its pipeline going forward? The recently announced At The Market financing from a single investor limits any short term selling pressure and minimizes dilution, while securing access to proper funding. There are no discounts, warrants, or resets.

Lastly, we have announced the formation of subsidiaries and potential spinoffs for each of our product lines which will unlock the value of IMNP’s assets by allowing for dedicated financing while focusing IMNP’s resources on our lead product candidate, bertilimumab. IMNP shareholders may benefit through the company’s direct shareholding and possibly through share dividends that will allow them to hold shares in both IMNP and the new companies focused respectively on Oncology, Pain & Neurology, and Dermatology. Due to their confidence in the company, insider buying from management and board has exceeded $1.5 Million in IMNP shares over the past 15 months. This includes significant investment from the Chief Executive Officer and Chief Medical Officer.

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