Immutep Projected TACTI-004 Would Deliver a "New Standard of Care" for Lung Cancer Patients. Instead, the Trial Was Stopped for Futility After Enrolling Just Half Its Target, and IMMP Investors Lost $2.28 Per Share.
NEW YORK, May 27, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP highlights the contrast between Immutep Limited's (NASDAQ: IMMP) promises to investors and the results that followed. Shareholders who purchased IMMP American Depositary Receipts between March 24, 2025 and March 12, 2026 and lost money may be entitled to recover damages. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
IMMP ADRs collapsed approximately 83%, falling from $2.76 to $0.48 per share in a single trading session after the company disclosed that its pivotal TACTI-004 Phase III trial was discontinued for futility. The lead plaintiff deadline is July 6, 2026.
The Promise
Throughout the Class Period, Immutep's leadership projected confidence about TACTI-004's trajectory. The company characterized the trial as among "the most significant milestones in the Company's history" and asserted that the efti combination had "the potential to establish a new standard of care" in first-line advanced non-small cell lung cancer. Investigators were told the trial was "on track for key milestones," enrollment was described as proceeding at a "robust pace," and prior studies were cited as demonstrating "strong efficacy" and an "excellent safety profile."
- The trial targeted enrollment of approximately 756 patients across more than 150 clinical sites globally
- Management projected a futility analysis in early 2026 followed by full enrollment completion by Q3 2026
- Prior TACTI-002 and INSIGHT-003 trials were cited as demonstrating efti enhances anti-PD-1 therapy "regardless of PD-L1 expression levels"
- As late as February 6, 2026, the CEO described enrollment as proceeding at an "excellent pace" that "speaks to the promise of efti"
The Reality
On March 13, 2026, Immutep disclosed that the Independent Data Monitoring Committee recommended discontinuing TACTI-004 for futility following a planned interim analysis. The trial had enrolled only 378 patients, exactly 50% of its target. The CEO himself called the outcome "very disappointing and surprising."
The lawsuit contends that defendants had access to internal clinical data, interim analyses, and reports that materially increased the known risk the trial would fail to meet its primary endpoints, yet continued projecting optimism to shareholders.
The Numbers: Promised vs. Actual
Metric | What Was Promised | What Happened |
Trial Outcome | "Potential to change the treatment landscape" | Discontinued for futility |
Patient Enrollment | ~756 patients targeted | 378 enrolled (50%) before termination |
Efficacy Signal | "Strong efficacy" from prior trials | IDMC found insufficient efficacy to continue |
Stock Trajectory | Analysts set targets up to $12.00 | ADRs fell to $0.48 |
Speak with an attorney about recovering your IMMP investment losses or call (212) 363-7500.
"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. The gap between what Immutep told the market about TACTI-004 and what the futility analysis revealed raises serious questions about the adequacy of the company's disclosures during the Class Period." -- Joseph E. Levi, Esq.
LEAD PLAINTIFF DEADLINE: July 6, 2026
Join the IMMP recovery action and submit your information today or contact Joseph E. Levi, Esq. at (212) 363-7500.
Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the IMMP Lawsuit
Q: When did Immutep allegedly mislead investors? A: The class period runs from March 24, 2025 to March 12, 2026. Throughout this period, the complaint alleges Immutep made materially false or misleading statements about the prospects of its TACTI-004 Phase III trial. When the trial was discontinued for futility on March 13, 2026, the stock declined approximately 83%.
Q: What specific misstatements does the IMMP lawsuit allege? A: The complaint alleges Immutep made materially false or misleading statements regarding the efficacy, safety, and prospects of the TACTI-004 Phase III clinical trial, including characterizing the trial as exhibiting "strong operational progress" while allegedly concealing internal data indicating a high risk of failure. When the true state was revealed, the stock price declined sharply.
Q: What if I already sold my IMMP shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact Levi & Korsinsky before July 6, 2026 to evaluate.
Q: What do IMMP investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of investor's country of residence.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP
