Sydney-based asset manager Regal Partners Ltd suffered a setback on Friday after shares in one of its portfolio companies, Immutep Ltd, collapsed following the discontinuation of a clinical trial for a lung cancer treatment, according to a report by Bloomberg.
Immutep’s stock plunged about 89%, erasing the bulk of the company’s roughly AUD582m ($412m) market value. The sharp decline came after the biotechnology firm announced it would halt the study based on a recommendation from an independent data monitoring committee. Regal, which owns close to 14% of Immutep, saw its own shares fall 5.2% in Sydney trading.
In a statement on Friday, Immutep Chief Executive Officer Marc Voigt said the company is reviewing the available clinical data to better understand the outcome and evaluate potential next steps for the programme. The company added that its current cash position is expected to support operations beyond its previously projected funding horizon of the second quarter of 2027.
The development represents another challenge for Regal’s healthcare investments under portfolio manager Phil King. Last year, the firm also had to mark down a stake exceeding AUD200m in Opthea Ltd after a clinical trial for an eye disease therapy failed. Trading in Opthea shares has been suspended since March 2025.
