Last year was one of "significant scientific progress" for ImmuPharma PLC (AIM:IMM), according to CEO and chairman Tim McCarthy.
It saw the further refinement of the protocol for the final phase study of its lead asset P140 in autoimmune disease, systemic lupus erythematosus, or SLE for short.
McCarthy said the tweaks provide a "high level of confidence" in the success of the new clinical trial.
P140 is also being developed for chronic inflammatory demyelinating polyradiculoneuropathy (CIPD), giving ImmuPharma two shots on goal.
"We look forward to providing further updates on the progress of this study, together with progress on P140 (CIDP) and our earlier-stage programme throughout 2024," said McCarthy in commentary alongside the company's prelims.
"We will also continue to concentrate on further commercial and partnering opportunities. In conjunction with the above objectives, we continue to take prudent measures on managing our cost base."
There were several highlights post-period, including the sale of a stake in the skincare group Incanthera, which netted £1.4 million.
ImmuPharma is also in "active ongoing discussions" with potential partners for its P140 platform and anti-infective programmes.
The loss for the 12 months ended December 31 was £2.9 million as ImmuPharma invested £2 million on research and development.