Immutep Limited is facing a class-action lawsuit after its American Depositary Receipts (ADRs) collapsed by 83 percent following the discontinuation of a key clinical trial.
"Our firm is committed to ensuring that investors receive full compensation for losses caused by corporate misrepresentations,” said Joseph E. Levi, a partner at Levi & Korsinsky.
The lawsuit alleges that between March 24, 2025, and March 12, 2026, Immutep provided overly positive statements regarding its TACTI-004 Phase III study. On March 13, 2026, the company announced the trial was being discontinued for futility, causing the ADR price to fall from $2.76 to $0.48 in a single day.
The legal action, filed in the Southern District of New York, seeks to recover investor losses. Shareholders who purchased ADRs during the specified period have until July 6, 2026, to request appointment as lead plaintiff.
The core of the complaint centers on allegations that Immutep concealed material adverse facts about the efficacy and safety of its lead product candidate, eftilagimod alfa ('efti'). The recommendation to halt the trial came from an Independent Data Monitoring Committee (IDMC) after a planned interim futility analysis. Law firms including Levi & Korsinsky and The Rosen Law Firm are now gathering clients for the case.
The dramatic stock decline to its lowest price since the announcement highlights the financial fallout from the clinical trial failure. Investors will now watch the legal proceedings and the July 6 lead plaintiff deadline for the next developments in the case.
This article is for informational purposes only and does not constitute investment advice.
