Immutep Sets 1-for-20 ADS Ratio Change to Regain Nasdaq Compliance
IMMP is trading near its 52-week low of $0.28 (4.0% above the low).
Summary
Immutep announced a 1-for-20 ADS ratio change effective 28 September 2026 to regain compliance with Nasdaq's US$1.00 minimum bid price requirement. The change is technical and does not affect the company's ordinary shares or capital structure.
Key Events · Corporate Governance and Compliance · IMMP
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ADS Ratio Change Announced
Effective 28 September 2026, the ADS ratio changes from 1 ADS = 10 ordinary shares to 1 ADS = 200 ordinary shares, equivalent to a 1-for-20 reverse split of ADSs.
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Nasdaq Compliance Deadline
The change is designed to regain compliance with Nasdaq's US$1.00 minimum bid price requirement, with the compliance period ending 26 October 2026.
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ADS Count Reduction
ADSs on issue will decrease from approximately 32.8 million to approximately 1.64 million; ordinary shares on issue remain unchanged at 1,473,721,306.
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Board's Margin Strategy
The Board set the ratio to provide a generous margin above the US$1.00 requirement, noting that a further deficiency within 12 months would not attract an additional compliance period.
Analysis · IMMP · Life Sciences
To address a Nasdaq minimum bid price deficiency, Immutep is restructuring its American Depositary Shares. The ADS ratio changes from 1 ADS representing 10 ordinary shares to 1 ADS representing 200 ordinary shares, effectively a 1-for-20 reverse split of the ADSs. This technical step pushes the ADS price above the US$1.00 minimum bid requirement, with the compliance period ending 26 October 2026. The company's ordinary shares on the ASX are unaffected, and no ordinary shares are issued or cancelled. The Board deliberately set the ratio to provide a generous margin above the US$1.00 threshold, reflecting concern about a further deficiency within 12 months. While the change does not alter the company's capital structure or cash position, it signals active management of its Nasdaq listing status amid a stock price near its 52-week low.
How filings like this one have moved
In the 30 days to Oct 15, 2026, 28.9% of the 1476 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, IMMP was trading at $0.29 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $42M. The 52-week trading range was $0.28 to $3.53. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.