Document and Entity Information
Document and Entity Information | 12 Months Ended |
Jun. 30, 2018shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Trading Symbol | IMMP |
Entity Registrant Name | IMMUTEP Ltd |
Entity Central Index Key | 1,506,184 |
Current Fiscal Year End Date | --06-30 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 3,026,082,669 |
Consolidated Balance Sheets
Consolidated Balance Sheets - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 23,475,521 | $ 12,236,974 |
Current receivables | 3,431,994 | 2,194,016 |
Other current assets | 1,735,664 | 1,488,268 |
Total Current Assets | 28,643,179 | 15,919,258 |
Non-Current Assets | ||
Plant and equipment | 26,449 | 24,202 |
Intangibles | 18,329,155 | 19,020,336 |
Total Non-Current Assets | 18,355,604 | 19,044,538 |
TOTAL ASSETS | 46,998,783 | 34,963,796 |
Current Liabilities | ||
Trade and other payables | 3,663,849 | 2,588,781 |
Employee benefits | 189,514 | 43,227 |
Total Current Liabilities | 3,853,363 | 2,632,008 |
Non-Current Liabilities | ||
Convertible note liability | 6,645,832 | 5,778,984 |
Warrant liability | 2,945,358 | |
Employee benefits | 32,303 | 20,498 |
Deferred tax liability | 0 | 0 |
Total Non-Current Liabilities | 9,623,493 | 5,799,482 |
TOTAL LIABILITIES | 13,476,856 | 8,431,490 |
NET ASSETS | 33,521,927 | 26,532,306 |
EQUITY | ||
Contributed equity | 213,232,719 | 195,352,543 |
Reserves | 64,874,040 | 63,018,575 |
Accumulated losses | (244,584,832) | (231,838,812) |
Equity attributable to the owners of Immutep Limited | 33,521,927 | 26,532,306 |
TOTAL EQUITY | $ 33,521,927 | $ 26,532,306 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenue | |||
License revenue | $ 2,630,484 | $ 175,052 | |
Other income | |||
Miscellaneous income | 1,008,678 | $ 800,460 | 702,743 |
Grant income | 3,214,441 | 3,316,273 | 887,083 |
Net gain on foreign exchange | 322,518 | 433 | |
Interest income | 177,186 | 104,368 | 264,043 |
Total revenue and other income | 7,353,307 | 4,221,534 | 2,028,921 |
Expenses | |||
Research & development and intellectual property | (9,989,830) | (7,525,744) | (7,059,528) |
Corporate administrative expenses | (7,242,061) | (4,346,952) | (6,982,629) |
Depreciation and amortization expenses | (1,808,929) | (1,701,615) | (1,993,093) |
Share Based Payment to strategic investor | (47,468,071) | ||
Loss on foreign exchange | (563,890) | ||
Net finance cost | (8,199) | ||
Changes in fair value of comparability milestone | (542,075) | ||
Net loss on fair value movement of warrants | (189,983) | ||
Changes in fair value of convertible note liability | (866,848) | (751,816) | (607,637) |
Loss before income tax expense | (12,744,344) | (10,104,593) | (63,196,201) |
Income tax(expense)/ benefit | (1,676) | 737,387 | 1,181,017 |
Loss after income tax expense for the year | (12,746,020) | (9,367,206) | (62,015,184) |
Other Comprehensive Income/(Loss) | |||
Exchange differences on the translation of foreign operations | 1,329,119 | (271,696) | 306,997 |
Other comprehensive income/(loss) for the year net of tax | 1,329,119 | (271,696) | 306,997 |
Comprehensive income | (11,416,901) | (9,638,902) | (61,708,187) |
Loss for the year is attributable to: | |||
Owners of Immutep Ltd | (12,746,020) | (9,367,206) | (62,015,184) |
Loss after income tax expense for the year | (12,746,020) | (9,367,206) | (62,015,184) |
Total comprehensive loss for the year is attributable to: | |||
Owners of Immutep Ltd | (11,416,901) | (9,638,902) | (61,708,187) |
Comprehensive income | $ (11,416,901) | $ (9,638,902) | $ (61,708,187) |
Basic loss per share | $ (0.49) | $ (0.41) | $ (2.78) |
Diluted loss per share | $ (0.49) | $ (0.41) | $ (2.78) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - AUD ($) | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Cash flows related to operating activities | ||||
Payments to suppliers and employees (inclusive of GST) | $ (13,572,384) | $ (10,818,557) | $ (13,336,202) | |
Miscellaneous income | 1,005,375 | 800,460 | 702,743 | |
License revenue | 2,630,484 | 175,052 | ||
Interest received | 127,033 | 104,368 | 264,043 | |
Tax received / (paid) | (1,676) | 21,643 | (2,410) | |
Grant income | 2,035,997 | 1,385,288 | 887,083 | |
Payment for security deposit | (1,532) | |||
Net cash flows used in operating activities | (7,776,703) | (8,506,798) | (11,309,691) | |
Cash flows related to investing activities | ||||
Proceeds from disposal of plant and equipment | 129,705 | |||
Payments for plant and equipment | (11,893) | (6,644) | (27,130) | |
Net cash flows provided by (used in) investing activities | (11,893) | (6,644) | 102,575 | |
Cash flows related to financing activities | ||||
Proceeds from issue of shares and options | [1] | 16,968,200 | 1 | 13,761,075 |
Proceeds from issue of warrants | [1] | 2,755,375 | ||
Proceeds from issue of convertible notes | [1] | 13,750,828 | ||
Repayment of borrowings | [1] | (1,508,473) | ||
Share issue transaction costs | [1] | (825,521) | (8,533) | (283,146) |
Finance cost of warrants | [1] | (493,487) | ||
Net cash flows provided by (used in) financing activities | 18,404,567 | (8,532) | 25,720,284 | |
Net (decrease) increase in cash and cash equivalents | 10,615,971 | (8,521,974) | 14,513,168 | |
Effect of exchange rate on cash and cash equivalents | 622,576 | (120,600) | (393,235) | |
Cash and cash equivalents at the beginning of the year | 12,236,974 | 20,879,548 | 6,759,615 | |
Cash and cash equivalents at the end of the year | $ 23,475,521 | $ 12,236,974 | $ 20,879,548 | |
[1] | Non-cash investing and financing activities relate mainly to the following: • Fair value movement of convertible notes disclosed in Note 15 to the financial statements • Fair value movement of warrant liability disclosed in Note 14 to the financial statements • Exercise of vested performance rights for no cash consideration disclosed in Note 19 to the financial statements |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - AUD ($) | Total | Issued Equity [member] | Reserves [member] | Accumulated Losses [member] |
At the beginning of reporting period, amount at Jun. 30, 2015 | $ 24,689,743 | $ 179,878,436 | $ 5,267,729 | $ (160,456,422) |
Other comprehensive income (loss) for the year, net of tax | 306,997 | 306,997 | ||
Loss after income tax expense for the year | (62,015,184) | (62,015,184) | ||
Total comprehensive income/( loss) for the year | (61,708,187) | 306,997 | (62,015,184) | |
Transactions with owners in their capacity as owners: | ||||
Contributions of equity, net of transaction costs | 13,477,930 | 13,477,930 | ||
Issue of convertible notes | 9,331,297 | 9,331,297 | ||
Share based payment | 82,242 | 82,242 | ||
Share based payment to strategic investor | 47,468,071 | 47,468,071 | ||
Employee share based payment | 1,976,417 | 1,976,417 | ||
Exercise of vested performance rights | 1,174,566 | (1,174,566) | ||
At reporting date, amount at Jun. 30, 2016 | 35,317,513 | 194,530,932 | 63,258,187 | (222,471,606) |
Other comprehensive income (loss) for the year, net of tax | (271,696) | (271,696) | ||
Loss after income tax expense for the year | (9,367,206) | (9,367,206) | ||
Total comprehensive income/( loss) for the year | (9,638,902) | (271,696) | (9,367,206) | |
Transactions with owners in their capacity as owners: | ||||
Contributions of equity, net of transaction costs | (8,532) | (8,532) | ||
Employee share based payment | 862,227 | 862,227 | ||
Exercise of vested performance rights | 830,143 | (830,143) | ||
At reporting date, amount at Jun. 30, 2017 | 26,532,306 | 195,352,543 | 63,018,575 | (231,838,812) |
Other comprehensive income (loss) for the year, net of tax | 1,329,119 | 1,329,119 | ||
Loss after income tax expense for the year | (12,746,020) | (12,746,020) | ||
Total comprehensive income/( loss) for the year | (11,416,901) | 1,329,119 | (12,746,020) | |
Transactions with owners in their capacity as owners: | ||||
Contributions of equity, net of transaction costs | 16,142,679 | 16,142,679 | ||
Issue of convertible notes | 13,750,828 | |||
Employee share based payment | 2,263,843 | 2,263,843 | ||
Exercise of vested performance rights | 1,737,497 | (1,737,497) | ||
At reporting date, amount at Jun. 30, 2018 | $ 33,521,927 | $ 213,232,719 | $ 64,874,040 | $ (244,584,832) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As approved in the November 2017 Annual General Meeting, the name of the Company was changed from Prima BioMed Limited to Immutep Limited with effect from 1 December 2017. The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated. The financial statements are for the consolidated entity consisting of the Company and its subsidiaries. (a) Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (‘AASB’) and the Corporations Act 2001. Immutep Limited is a for-profit (i) Compliance with IFRS The consolidated financial statements of the Immutep Limited group also comply with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). (ii) New and amended standards adopted by the group None of the new standards and amendments to standards that are mandatory for the first time for the financial year beginning July 1, 2017 affected any of the amounts recognized in the current period or any prior periods. (iii) Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, financial assets and liabilities (including derivative financial instruments), which are subsequently remeasured to fair value with changes in fair value recognized in profit or loss. (iv) Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the consolidated entity’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 3. (v) Authorisation of financial statements The financial statements were authorised for issue, in accordance with a resolution of directors, on October 19, 2018. The directors have the power to amend and reissue the financial report. (b) Principles of consolidation Subsidiaries are all entities (included structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. (c) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker (CODM), who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Board of Directors. (d) Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in Australian dollars, which is the Immutep Limited’s functional and presentation currency. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss, except when they are deferred in equity as qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation. Foreign exchange gains and losses that relate to borrowings are presented in the income statement, within finance costs. All other foreign exchange gains and losses are presented separately in the income statement on a net basis. Non-monetary non-monetary non-monetary available-for-sale (iii) Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet • income and expenses for each income statement and statement of comprehensive loss are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and • all resulting exchange differences are recognized in other comprehensive income. On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale. (e) Revenue recognition Revenue is measured at the fair value of the consideration received or receivable. The group recognizes revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the group’s activities as described below. The group bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. (i) License revenue License revenue is recognized on receipt or where there is reasonable assurance that the license revenue will be received. Other income (i) Interest income Interest income is recognized as interest accrues using the effective interest method. This is a method of calculating the amortized cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. (ii) Grant income Grants from the governments, including Australian Research and Development Rebates and Development Rebates, France’s Crédit d’Impôt Recherche, and Saxony Development Bank (“Sächsische Aufbaubank”) from Germany, are recognized at their fair value when there is a reasonable assurance that the grant will be received and the Company will comply with all attached conditions. Government grants relating to operating costs are recognized in the Statements of Comprehensive Income as grant income. (iii) Miscellaneous income a. Research collaboration income The group receives income from undertaking research collaborations with are recognized when the services have been provided. b. Research material sales The group receives income from the sale of materials supplied to other researchers in order to conduct further studies on LAG-3 (f) Income tax The income tax expense or benefit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Company’s subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets are recognized for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilize those temporary differences and losses. Deferred tax liabilities and assets are not recognized for temporary differences between the carrying amount and tax bases of investments in foreign operations where the Company is able to control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable future. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Immutep Limited and its wholly-owned Australian controlled entities have implemented the tax consolidation legislation. As a consequence, these entities are taxed as a single entity and the deferred tax assets and liabilities of these entities are set off in the consolidated financial statements. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income or directly in equity, respectively. (g) Business combinations The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the fair value of the assets transferred, liabilities incurred to the former owners of the acquired business and the equity interests issued by the group. The consideration transferred also includes the fair value of any asset or liability resulting from a contingent consideration agreement, and the fair value of any pre-existing Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The group recognizes and non-controlling acquisition-by-acquisition non-controlling Acquisition-related costs are expensed as incurred. The excess of the consideration transferred and the amount of any non-controlling Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit and loss. (h) Impairment of assets Goodwill and intangible assets that have a definite useful life are subject to amortization and tested annually for impairment or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial (i) Cash and cash equivalents For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet. (j) Current receivables Current receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less provision for impairment. Amount receivable in relation to Goods and Services Tax (GST) and Value Added Tax (VAT) are due from the local taxation authorities and recorded based on the amount of GST and VAT paid on purchases. They are presented as current assets unless collection is not expected for more than 12 months after the reporting date. Collectability of current receivables is reviewed on an ongoing basis. Receivables which are known to be uncollectible are written off by reducing the carrying amount. An allowance account is used when there is objective evidence that the group will not be able to collect all amounts due. (k) Investments and other financial assets Investments and other financial assets are initially measured at fair value. Transaction costs are included as part of the initial measurement, except for financial assets at fair value through profit or loss. They are subsequently measured at either amortized cost or fair value depending on their classification. Classification is determined based on the purpose of the acquisition and subsequent reclassification to other categories is restricted. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the consolidated entity has transferred substantially all the risks and rewards of ownership. Loans and receivables Loans and receivables are non-derivative Impairment of financial assets The group assesses at the end of each reporting period whether there is any objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes significant financial difficulty of the issuer or obligor; a breach of contract such as default or delinquency in payments; the lender granting to a borrower concessions due to economic or legal reasons that the lender would not otherwise do; it becomes probable that the borrower will enter bankruptcy or other financial reorganization; the disappearance of an active market for the financial asset; or observable data indicating that there is a measurable decrease in estimated future cash flows. The amount of the impairment allowance for loans and receivables carried at amortized cost is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. If there is a reversal of impairment, the reversal cannot exceed the amortized cost that would have been recognized had the impairment not been made and is reversed to profit or loss. (l) Plant and equipment Plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation on other assets is calculated using the straight-line method to allocate their cost, net of their residual values, over their estimated useful lives as follows: • Computers – 3 years • Plant and equipment – 3-5 • Furniture – 3-5 The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (note 1(h)). Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss. (m) Intangible assets (i) Intellectual property Costs incurred in acquiring intellectual property are capitalized and amortized on a straight line basis over a period not exceeding the life of the patents, which averages 14 years. Where a patent has not been formally granted, the company estimates the life of the granted patent in accordance with the provisional application. Costs include only those costs directly attributable to the acquisition of the intellectual property. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (note 1(h)). (ii) Research and development Research expenditure on internal projects is recognized as an expense as incurred. Costs incurred on development projects (relating to the design and testing of new or improved products) are recognized as intangible assets when it is probable that the project will, after considering its commercial and technical feasibility, be completed and generate future economic benefits and its costs can be measured reliably. The expenditure that could be recognized comprises all directly attributable costs, including costs of materials, services, direct labor and an appropriate proportion of overheads. Other expenditures that do not meet these criteria are recognized as an expense as incurred. As the Company has not met the requirement under the standard to capitalize costs in relation to development, these amounts have been expensed. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Capitalized development costs are recorded as intangible assets and amortized from the point at which the asset is ready for use on a straight line basis over its useful life. (iii) Goodwill Goodwill is measured as described in (note 1(g)). Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortized but it is tested for impairment annually or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. (n) Trade and other payables These amounts represent liabilities for goods and services provided to the group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognized initially at their fair value and subsequently remeasured at amortized cost using the effective interest method. (o) Compound instruments Convertible notes, including the attached options and warrants, issued to Ridgeback Capital Investments are accounted for as share based payments when the fair value of the instruments are higher than the consideration received, representing intangible benefits received from the strategic investor. The difference between the fair value and consideration received at issuance of the convertible notes and attached options and warrants is recognised immediately in profit and loss as a share-based payment charge. If options or warrants contain a settlement choice between cash or shares, this settlement choice constitutes a compound feature of the convertible notes, which triggers the separation of debt and equity components to be accounted for separately. The liability component is measured at fair value at initial recognition and subsequent changes in fair value are recognised in profit and loss. The difference between the fair value of the convertible notes and the liability component at inception is accounted as an equity element and not remeasured subsequently. (p) Finance costs Finance costs are expensed in the period in which they are incurred. (q) Employee benefits (i) Short-term obligations Liabilities for wages and salaries, including non-monetary non-accumulating (ii) Other long-term employee benefit obligations The liabilities for long service leave and annual leave that are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are measured at the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognized in profit or loss. The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur. (iii) Retirement benefit obligations The group does not maintain a group superannuation plan. The group makes fixed percentage contributions for all Australian resident employees to complying third party superannuation funds. The group has no statutory obligation and does not make contributions on behalf of its resident employees in the USA and Germany. The group’s legal or constructive obligation is limited to these contributions. Contributions to complying third party superannuation funds are recognized as an expense as they become payable. (iv) Share-based payments Share-based compensation benefits are provided to employees via the Executive Incentive Plan (EIP). Information relating to these schemes is set out in note 30. The fair value of performance rights and options granted under the EIP are recognized as an employee benefits expense with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the options granted, which includes any market performance conditions and the impact of any non-vesting non-market Non-market non-marketing (v) Termination benefits Termination benefits are payable when employment is terminated before the normal employment contract expiry date. The group recognizes termination benefits when it is demonstrably committed to terminating the employment of current employees. (vi) Bonus plan The group recognizes a liability and an expense for bonuses. The group recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation. (r) Contributed equity Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. (s) Earnings per share (i) Basic earnings per share Basic earnings per share is calculated by dividing: • the profit or loss attributable to owners of the Company • by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year. Bonus elements have been included in the calculation of the weighted average number of ordinary shares and has been retrospectively applied to the prior financial year. (ii) Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account: • the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and • the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. (t) Goods and Services Tax and other similar taxes (‘GST’) Revenues, expenses and assets are recognized net of the amount of associated GST, unless the GST incurred is not recoverable from the taxation authority. In this case it is recognized as part of the cost of acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the taxation authority is included with other receivables or payables in the balance sheet. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the taxation authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. (u) New Accounting Standards and Interpretations not yet mandatory or early adopted Certain new accounting standards and interpretations have been published that are not mandatory for June 30, 2018 reporting periods and have not been early adopted by the company. The company’s assessment of the impact of these new standards and interpretations is set out below: (i) AASB 15 (IFRS 15) Revenue from Contracts with Customers—The AASB has issued a new standard for the recognition of revenue. This will replace AASB 118 (IAS 18) which covers revenue arising from the sale of goods and the rendering of services and AASB 111 (IAS 11) which covers construction contracts. The new standard is based on the principle that revenue is recognised when control of a good or service transfers to a customer. The standard permits either a full retrospective or a modified retrospective approach for the adoption. It applies to annual reporting periods commencing on or after 1 January 2018. The impact of the new standard on the financial statements when applied to future periods will depend on the Group’s sources of revenues at the time of adoption of the new standard. The Group currently has limited sources of revenue as it is still in the research and development phase and has assessed that the new revenue standard will have minimal impact. The Group plans to use the modified retrospective approach for the adoption. (ii) AASB 9 (IFRS 9) Financial Instruments—AASB 9 (IFRS 9) addresses the classification, measurement and derecognition of financial assets and financial liabilities, introduces new rules for hedge accounting and a new impairment model for financial assets. It applies to annual reporting periods commencing on or after 1 January 2018. Management has assessed the impact of the new standard on the financial statements when applied to future periods and expects it to have limited impact. (iii) AASB 16 (IFRS 16) Leases—The AASB 16 (IFRS 16) has issued a new standard for the accounting of leases. The new standard will predominantly affect lessees, with almost all leases brought onto the balance sheet. It applies to annual reporting periods commencing on or after 1 January 2019. Management has yet to fully assess the impact of the new standard on the financial statements when applied to future periods, although the Group currently has no significant off-balance There are no other standards and interpretations that are not yet effective and that are expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions. (v) Parent entity financial information The financial information for the parent entity, Immutep Limited, disclosed in note 31 has been prepared on the same basis as the consolidated financial statements, except as set out below. (i) Investments in subsidiaries, associates and joint venture entities Investments in subsidiaries are accounted for at cost in the financial statements of Immutep Limited. (ii) Tax consolidation legislation Immutep Limited and its wholly-owned Australian controlled entities have implemented the tax consolidation legislation. The head entity, Immutep Limited, and the controlled entities in the tax consolidated group account for their own current and deferred tax amounts. These tax amounts are measured as if each entity in the tax consolidated group continues to be a stand-alone taxpayer in its own right. The entities have also entered into a tax funding agreement under which the wholly-owned entities fully compensate for any current tax payable assumed and are compensated by the head entity for any current tax receivable and deferred tax assets relating to unused tax losses or unused tax credits that are transferred to the head entity under the tax consolidation legislation. The funding amounts are determined by reference to the amounts recognized in the wholly-owned entities’ financial statements. The amounts receivable/payable under the tax funding agreement are due upon receipt of the funding advice from the head entity, which is issued as soon as practicable after the end of each financial year. The head entity may also require payment of interim funding amounts to assist with its obligations to pay tax instalments. Assets or liabilities arising under tax funding agreements with the tax consolidated entities are recognized as current amounts receivable from or payable to other entities in the group. Any difference between the amounts assumed and amounts receivable or payable under the tax funding agreement are recognized as a contribution to (or distribution from) wholly-owned tax consolidated entities. (iii) Share-based payments The grant by the company of options over its equity instruments to the employees of subsidiary undertakings in the group is treated as a capital contribution to that subsidiary undertaking. The fair value of employee services received, measured by reference to the grant date fair value, is recognized over the vesting period as an increase to investment in subsidiary undertakings, with a corresponding credit to equity. |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Jun. 30, 2018 | |
Financial Risk Management | NOTE 2. FINANCIAL RISK MANAGEMENT The group’s activities expose it to a variety of financial risks: market risk (including currency risk), credit risk and liquidity risk. The group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the financial performance of the group. The group may use derivative financial instruments such as foreign exchange contracts to hedge certain risk exposures. Derivatives are exclusively used for hedging purposes, i.e. not as trading or other speculative instruments. The group hedges its foreign exchange risk exposure arising from future commercial transactions and recognized assets and liabilities using forward contracts or natural hedging. The group uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis and cash flow forecasting in the case of foreign exchange and aging analysis for credit risk. Risk management is carried out by senior management under policies approved by the board of directors. Management identifies, evaluates and hedges financial risks in close co-operation non-derivative (a) Market risk Foreign exchange risk The group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to the US dollar and Euro. Foreign exchange risk arises from future commercial transactions and recognized assets and liabilities denominated in a currency that is not the entity’s functional currency. The risk is measured using sensitivity analysis and cash flow forecasting. Management has set up a policy to manage the company’s exchange risk within the group companies. The group hedges its foreign exchange risk exposure arising from future commercial transactions and recognized assets and liabilities using forward contracts or natural hedging. The group considers using forward exchange contracts to cover anticipated cash flow in USD and Euro periodically, as derivatives held for trading and measured through the statement of comprehensive income. This policy is reviewed regularly by directors from time to time. There were no outstanding foreign exchange contracts as at June 30, 2018 and June 30, 2017. The group’s exposure to foreign currency risk at the end of the reporting period, expressed in Australian dollar, was as follows: June 30, 2018 June 30, 2017 USD EUR USD EUR Cash in bank 7,788,802 2,163,426 712,680 7,449,288 Trade and other receivables — 2,541,056 — 5,024 Trade and other payables (1,226,364 ) (315,485 ) (135,820 ) (858,305 ) Sensitivity Based on the financial assets and liabilities held at June 30, 2018, had the Australian dollar weakened/ strengthened by 10% against the US dollar with all other variables held constant, the group’s post-tax Based on the financial instruments held at June 30, 2018, had the Australian dollar weakened/ strengthened by 10% against the Euro with all other variables held constant, the group’s post-tax Any changes in post-tax The US warrants financial liability will be equity-based settled upon exercise of the US warrants. However, as the exercise will be done with an exercise price in US dollars, there is a foreign exchange risk due to the subsequent translation to Australian dollars. Currently the group’s exposure to other foreign exchange movements is not material. (b) Credit risk Credit risk is managed on a group basis. Credit risk arises from cash and cash equivalents, derivative financial instruments and deposits with banks. For banks, only independently rated parties with a minimum rating of ‘A’ according to ratings agencies are accepted. The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings: June 30, 2018 June 30, 2017 $ $ Cash at bank and short-term bank deposits Minimum rating of A 23,475,521 12,236,974 (c) Liquidity risk Prudent liquidity risk management implies maintaining sufficient cash to meet obligations when due. At the end of the reporting period the group held deposits at call of $ 23,475,521 (2017: $12,236,974) that are expected to readily generate cash inflows for managing liquidity risk. Management monitors rolling forecasts of the group’s liquidity reserve cash and cash equivalents (note 7) on the basis of expected cash flows. In addition, the group’s liquidity management policy involves projecting cash flows in major currencies and considering the level of liquid assets necessary to meet these. As outlined in Note 3, the company’s monitoring of its cash requirements extends to the consideration of potential capital raising strategies and an active involvement with its institutional and retail investor base. Maturities of financial liabilities The tables below analyze the group’s financial liabilities into relevant maturity groupings based on their contractual maturities for: (a) all non-derivative (b) net and gross settled derivative financial instruments for which the contractual maturities are essential for an understanding of the timing of the cash flows. The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant. Contractual maturities of financial liabilities At June 30, 2018 Less than More than Total Carrying Non-Derivatives Trade and other payables 3,663,849 — 3,663,849 3,663,849 Convertible note liability (refer note 15) — 17,876,076 17,876,076 6,645,832 3,663,849 17,876,076 21,539,925 10,309,681 Contractual maturities of financial liabilities At June 30, 2017 Less than More than Total Carrying Non-Derivatives Trade and other payables 2,588,781 — 2,588,781 2,588,781 Convertible note liability (refer note 15) — 17,876,076 17,876,076 5,778,984 2,588,781 17,876,076 20,464,857 8,367,765 (d) Fair value measurements The following table presents the group’s financial assets and financial liabilities measured and recognized at fair value at June 30, 2018 and June 30, 2017 on a recurring basis: At June 30, 2018 Level 1 Level 2 $ Level 3 $ Total $ Liabilities Convertible note liability — — 6,645,832 6,645,832 Warrant liability — 2,945,358 — 2,945,358 Total liabilities — 2,945,358 6,645,832 9,591,190 At June 30, 2017 Level 1 Level 2 $ Level 3 $ Total $ Liabilities Convertible note liability — — 5,778,984 5,778,984 Total liabilities — — 5,778,984 5,778,984 (i) Valuation techniques used to determine fair values Level 1: available-for-sale Level 2: over-the-counter Level 3: Specific valuation techniques used to value financial instruments include: • The use of quoted market prices or dealer quotes for similar instruments • The fair value of interest rate swaps is calculated as the present value of the estimated future cash flows based on observable yield curves • The fair value of forward foreign exchange contracts is determined using forward exchange rates at the balance sheet date • The fair value of the remaining financial instruments is determined using discounted cash flow analysis. (ii) Fair value measurements using value techniques For US warrant valuation inputs under Level 2, please refer to Note 14. • There are no financial instruments as at 30 June 2018 under Level 1. • Level 2 financial instruments consist of warrant liabilities. Refer to Note 14 for details of fair value measurement. • Level 3 financial instruments consist of convertible notes. Refer to Note 15 for details of fair value measurement. (iii) Valuation inputs and relationships to fair value The following table summarizes the quantitative information about the significant inputs used in level 3 fair value measurements: Description Fair value at Unobservable inputs Range of inputs Convertible note 6,645,832 Face value $ 13,750,828 Interest rate of note 3 % Risk adjusted interest rate 15 % (iv) Valuation process The convertible note was valued using a discounted cash flow model. |
Critical Accounting Judgements,
Critical Accounting Judgements, Estimates and Assumptions | 12 Months Ended |
Jun. 30, 2018 | |
Critical Accounting Judgements, Estimates and Assumptions | NOTE 3. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that may have a financial impact on the entity and that are believed to be reasonable under the circumstances. The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Income taxes Deferred tax assets relating to carried forward tax losses and taxable temporary differences have not been recognized since the group is currently in a loss making position and unable to generate taxable income to utilize the carried forward tax losses and taxable temporary differences. The utilization of the tax losses also depends on the ability of the entity to satisfy certain tests at the time the losses are recouped. The group is subject to income taxes in Australia and jurisdictions where it has foreign operations. Significant judgement is required in determining the worldwide provision for income taxes. There are certain transactions and calculations undertaken during the ordinary course of business for which the ultimate tax determination is uncertain. The group estimates its tax liabilities based on the group’s understanding of the tax law. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred income tax assets and liabilities in the period in which such determination is made. Development The consolidated entity has expensed all internal development expenditure incurred during the year as the costs relate to the initial expenditure for development of biopharmaceutical products and the generation of future economic benefits is not considered probable given the current stage of development. It was considered appropriate to expense the development costs as they did not meet the criteria to be capitalized under AASB 138 (IAS 38) Intangible Assets Going Concern The Group has experienced significant recurring operating losses and negative cash flows from operating activities since its inception. As at 30 June 2018, the Group holds cash and cash equivalents of $23,475,521 (2017: $12,236,974). In line with the Company’s financial risk management, the directors have carefully assessed the financial and operating implications of the above matters, including the expected cash outflows of ongoing research and development activities of the Group over the next 12 months. Based on this consideration, the directors are of the view that the Group will be able to pay its debts as and when they fall due for at least 12 months following the date of these financial statements and that it is appropriate for the financial statements to be prepared on a going concern basis. Monitoring and addressing the ongoing cash requirements of the Group is a key focus of the directors. This involves consideration of alternative future capital raising initiatives and an active engagement with potential retail and institutional investors alike. Amortization of intellectual property Costs incurred in acquiring intellectual property are capitalized and amortized on a straight line basis over a period not exceeding the life of the patents. Where a patent has not been formally granted, the company estimates the life of the granted patent in accordance with the provisional application. Costs include only those costs directly attributable to the acquisition of the intellectual property. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (note 1(h)). |
Segment Reporting
Segment Reporting | 12 Months Ended |
Jun. 30, 2018 | |
Segment Reporting | NOTE 4. SEGMENT REPORTING Identification of reportable operating segments Operating segments are reported in a manner consistent with internal reports which are reviewed and used by Management and the Board of Directors (who are identified as the Chief Operating Decision Makers (‘CODM’)). The Group operates in one operating segment, being Cancer Immunotherapy. Operating segment information June 30, 2018 Cancer Consolidated Revenue License revenue 2,630,484 — 2,630,484 Other income Miscellaneous income 1,008,678 — 1,008,678 Grant income 3,214,441 — 3,214,441 Other income — 322,518 322,518 Interest income — 177,186 177,186 Total revenue and other income 6,853,603 499,704 7,353,307 Segment Result (13,054,065 ) 309,721 (12,744,344 ) Profit/(loss) before income tax expense (13,054,065 ) 309,721 (12,744,344 ) Income tax benefit — (1,676 ) Loss after income tax expense (12,746,020 ) Total segment assets 46,998,783 — 46,998,783 Total segment liabilities 13,476,856 — 13,476,856 June 30, 2017 Cancer Unallocated Consolidated Revenue License revenue — — — Other income — — — Miscellaneous income 800,460 — 800,460 Grant income 3,316,273 — 3,316,273 Other income — 433 433 Interest income — 104,368 104,368 Total revenue and other income 4,116,733 104,801 4,221,534 Segment Result (10,209,394 ) 104,801 (10,104,593 ) Profit/(loss) before income tax expense (10,209,394 ) 104,801 (10,104,593 ) Income tax benefit 737,387 Loss after income tax expense (9,367,206 ) Total segment assets 34,963,796 — 34,963,796 Total segment liabilities 8,431,490 — 8,431,490 June 30, 2016 Cancer Consolidated Revenue License revenue 175,052 — 175,052 Other income Miscellaneous income 702,743 — 702,743 Grant income 887,083 — 887,083 Interest income — 264,043 264,043 Total revenue and other income 1,764,878 264,043 2,028,921 Segment Result (63,460,244 ) 264,043 (63,196,201 ) Profit/(loss) before income tax expense (63,460,244 ) 264,043 (63,196,201 ) Income tax benefit 1,181,017 Loss after income tax expense (62,015,184 ) Total segment assets 42,554,067 — 42,554,067 Total segment liabilities 7,236,554 — 7,236,554 |
Expenses
Expenses | 12 Months Ended |
Jun. 30, 2018 | |
Expenses | NOTE 5. EXPENSES Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Loss before income tax includes the following specific expenses: Research & Development and Intellectual Property Research and development 8,972,321 6,991,151 6,382,377 Intellectual property management 1,017,509 534,593 677,151 Total Research & Development and Intellectual Property 9,989,830 7,525,744 7,059,528 Corporate administrative expenses Auditor’s remuneration 258,570 234,250 441,741 Directors fee and employee expenses 1,703,671 1,103,512 1,643,294 Employee share-based payment expenses 2,263,843 862,227 1,976,417 US warrants transaction costs 493,487 — — Administrative expenses 2,522,490 2,146,963 2,921,177 Total corporate administrative expenses 7,242,061 4,346,952 6,982,629 Depreciation Plant and equipment 1,917 3,680 168,924 Computers 7,814 8,867 10,676 Furniture and fittings 893 1,394 2,775 Total depreciation 10,624 13,941 182,375 Amortization Patents — — 61,881 Intellectual Property Assets R&D 1,798,305 1,687,674 1,748,837 Total amortization 1,798,305 1,687,674 1,810,718 Total depreciation and amortization 1,808,929 1,701,615 1,993,093 (Gain)/loss on disposal of assets Plant and equipment — — (18,493 ) Finance expenses Interest expenses — — 8,199 Other finance expenses — Finance expense — — 8,199 Net change in fair value of convertible note liability 866,848 751,816 607,637 Net change in fair value of warrants 189,983 — — Loss on foreign exchange — — 563,890 Changes in fair value of comparability milestone — — 542,075 Share Based Payment to strategic investor — — 47,468,071 |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Jun. 30, 2018 | |
Income Tax Expense | NOTE 6. INCOME TAX EXPENSE Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Current tax Current tax on profits for the year 1,676 (43,193 ) 3,121 Total current tax expense 1,676 (43,193 ) 3,121 Deferred income tax Increase in deferred tax assets (note 12) (103,660 ) (419,460 ) (921,463 ) Decrease in deferred tax liabilities (note 12) 103,660 (274,734 ) (262,675 ) Total deferred tax (benefit)/expense — (694,194 ) (1,184,138 ) Income tax (benefit)/expense 1,676 (737,387 ) (1,181,017 ) Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Numerical reconciliation of income tax expense to prima facie tax payable Loss before income tax expense (12,744,344 ) (10,104,593 ) (63,196,201 ) Tax at the Australian tax rate of 27.5% (2017 27.5% and 2016: 30%) (3,504,695 ) (2,778,763 ) (18,958,860 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Non-deductible 807,896 234,385 14,858,019 Other non-deductible 2,962,323 628,111 598,016 Non-assessable (883,971 ) (911,975 ) (266,125 ) Capital listing fee (79,152 ) (64,120 ) (90,305 ) Difference in overseas tax rates* 828,289 811,346 1,184,138 130,690 (2,081,016) (2,675,117) Net adjustment to deferred tax assets and liabilities for tax losses and temporary differences not recognized (129,014 ) 1,343,629 1,494,100 Income tax (benefit)/expense** 1,676 (737,387 ) (1,181,017 ) * Difference in overseas tax rate is as a result of reduced corporate income tax rate of 15% applicable to the Immutep subsidiary in France. ** Income tax expense /(benefit) relates to tax payable in the United States and for the prior year movement in deferred tax assets and liabilities for the French subsidiary. Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Deferred tax assets not recognized Deferred tax assets not recognized comprises temporary differences attributable to: Carried forward tax losses benefit 34,854,437 30,987,750 32,044,352 Temporary differences 27,366 57,955 438,284 Total deferred tax assets not recognized 34,881,803 31,045,705 32,482,636 The above potential tax benefit, which includes tax losses and temporary differences has not been recognized in the consolidated balance sheet as the recovery of this benefit is not probable. There is no expiration date for the tax losses carried forward. The estimated amount of cumulative tax losses at June 30, 2018 was $126,743,409 (2017 – $112,682,727). Utilization of these tax losses is dependent on the parent entity satisfying certain tests at the time the losses are recouped. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Jun. 30, 2018 | |
Cash and Cash Equivalents | NOTE 7. CASH AND CASH EQUIVALENTS Consolidated June 30, 2018 June 30, 2017 Cash on hand 422 130 Cash at bank 5,932,433 11,972,345 Cash on deposit 17,542,666 264,499 23,475,521 12,236,974 The above cash and cash equivalent are held in AUD, USD, and Euro. The interest rates on these deposits range from 0% to 2.73% in 2018 (0% to 2.05% in 2017). |
Current Receivables
Current Receivables | 12 Months Ended |
Jun. 30, 2018 | |
Current Receivables | NOTE 8. CURRENT RECEIVABLES Consolidated June 30, 2018 June 30, 2017 GST receivable 170,926 187,273 Grant and other receivables 3,261,068 2,006,743 3,431,994 2,194,016 Due to the short term nature of these receivables, the carrying value is assumed to be their fair value at June 30, 2018. No receivables were impaired or past due. |
Other Current Assets
Other Current Assets | 12 Months Ended |
Jun. 30, 2018 | |
Other Current Assets | NOTE 9. OTHER CURRENT ASSETS Consolidated June 30, 2018 June 30, 2017 Prepayments* 1,646,579 604,687 Capital raising costs — 846,180 Security deposit 38,843 37,311 Accrued interest 50,242 90 1,735,664 1,488,268 * Prepayments are in relation to the deposits paid to organizations involved in the clinical trials. |
Non-Current Assets - Plant and
Non-Current Assets - Plant and Equipment | 12 Months Ended |
Jun. 30, 2018 | |
Non-Current Assets - Plant and Equipment | NOTE 10. NON-CURRENT Plant and Computers Furniture Total At June 30, 2016 Cost or fair value 511,195 41,971 8,064 561,230 Accumulated depreciation (496,104 ) (28,212 ) (5,414 ) (529,730 ) Net book amount 15,091 13,759 2,650 31,500 Year ended June 30, 2017 Opening net book amount 15,091 13,759 2,650 31,500 Exchange differences (171 ) (229 ) (46 ) (446 ) Additions — 7,089 — 7,089 Disposals — — — — Depreciation charge (3,680 ) (8,867 ) (1,394 ) (13,941 ) Closing net book amount 11,240 11,752 1,210 24,202 At June 30, 2017 Cost or fair value 510,188 48,919 8,030 567,137 Accumulated depreciation (498,948 ) (37,167 ) (6,820 ) (542,935 ) Net book amount 11,240 11,752 1,210 24,202 Year ended June 30, 2018 Opening net book amount 11,240 11,752 1,210 24,202 Exchange differences 638 314 26 978 Additions 1,312 10,581 — 11,893 Disposals — — — — Depreciation charge (1,917 ) (7,814 ) (893 ) (10,624 ) Closing net book amount 11,273 14,833 343 26,449 At June 30, 2018 Cost or fair value 524,746 61,585 8,475 594,806 Accumulated depreciation (513,473 ) (46,752 ) (8,132 ) (568,357 ) Net book amount 11,273 14,833 343 26,449 |
Non-Current Assets - Intangible
Non-Current Assets - Intangibles | 12 Months Ended |
Jun. 30, 2018 | |
Non-Current Assets - Intangibles | NOTE 11. NON-CURRENT Patents Intellectual Goodwill Total At June 30, 2016 Cost or fair value 1,915,671 23,451,000 109,962 25,476,633 Accumulated amortization (1,915,671 ) (2,709,263 ) — (4,624,934 ) Net book amount — 20,741,737 109,962 20,851,699 Year ended June 30, 2017 Opening net book amount — 20,741,737 109,962 20,851,699 Exchange difference — (143,689 ) (143,689 ) Amortization charge — (1,687,674 ) — (1,687,674 ) Closing net book amount — 18,910,374 109,962 19,020,336 At June 30, 2017 Cost or fair value 1,915,671 23,343,253 109,962 25,368,886 Accumulated amortization (1,915,671 ) (4,432,879 ) — (6,348,550 ) Net book amount — 18,910,374 109,962 19,020,336 Year ended June 30, 2018 Opening net book amount — 18,910,374 109,962 19,020,336 Exchange difference — 1,107,124 — 1,107,124 Amortization charge — (1,798,305 ) — (1,798,305 ) Closing net book amount — 18,219,193 109,962 18,329,155 At June 30, 2018 Cost or fair value 1,915,671 24,786,169 109,962 26,789,097 Accumulated amortization (1,915,671 ) (6,566,976 ) — (8,459,942 ) Net book amount — 18,219,193 109,962 18,329,155 (i) Amortization methods and useful lives The group amortizes intangible assets with a limited useful life using the straight-line method over the following periods: • Patents, trademark and licenses – 13 – 21 years • Intellectual property assets – 13 – 14 years |
Deferred Tax Balances
Deferred Tax Balances | 12 Months Ended |
Jun. 30, 2018 | |
Deferred Tax Balances | NOTE 12. DEFERRED TAX BALANCES (i) Deferred tax assets The balance comprises temporary differences attributable to: Consolidated June 30, 2018 June 30, 2017 Tax losses 2,732,866 2,836,526 Total deferred tax assets 2,732,866 2,836,526 Set-off set-off (2,732,866 ) (2,836,526 ) Net deferred tax liabilities — — (ii) Deferred tax liabilities The balance comprises temporary differences attributable to: Consolidated June 30, 2018 June 30, 2017 Intangible assets 2,732,866 2,836,526 Total deferred tax liabilities 2,732,866 2,836,526 Set-off set-off (2,732,866 ) (2,836,526 ) Net deferred tax liabilities — — (iii) Movements in deferred tax balances Tax Losses Intangible Assets Total Movement At June 30, 2017 2,836,526 (2,836,526 ) — (Charged)/credited – to profit or loss (103,660 ) 103,660 — At June 30, 2018 2,732,866 (2,732,866 ) — |
Current Liabilites - Trade and
Current Liabilites - Trade and Other Payables | 12 Months Ended |
Jun. 30, 2018 | |
Current Liabilites - Trade and Other Payables | NOTE 13. CURRENT LIABILITIES – TRADE AND OTHER PAYABLES Consolidated June 30, 2018 June 30, 2017 Trade payables 1,615,381 1,138,753 Other payables and accruals 2,048,468 1,450,028 3,663,849 2,588,781 |
Non-Current Liabilities - US Wa
Non-Current Liabilities - US Warrant Liability | 12 Months Ended |
Jun. 30, 2018 | |
Non-Current Liabilities - US Warrant Liability | NOTE 14. NON-CURRENT Consolidated June 30, 2018 June 30, 2017 Warrants fair value at issue date 2,755,375 — Fair value movements 189,983 — Balance at 30 June 2018 2,945,358 — In July 2017, the Company completed its first US capital raise after it entered into a securities purchase agreement with certain accredited investors for the company to issue American Depositary Shares (ADSs) and Warrants of the Company for cash consideration totaling $6,561,765. In this private placement, the Company agreed to issue unregistered warrants to purchase up to 1,973,451 of its ADSs. The warrants have an exercise price of US$2.50 per ADS, are exercisable immediately and will expire on 5 January 2023. The warrants do not confer any rights to dividends or a right to participate in a new issue without exercising the warrant. The US warrants represent a written option to exchange a fixed number of the Group’s own equity instruments for a fixed amount of cash that is denominated in a foreign currency (US dollars) and is classified as a derivative financial liability in accordance with AASB 132. The US warrants liability is initially recorded at fair value at issue date and subsequently measured at fair value through profit and loss at each reporting date. Capital raising costs have been allocated proportionately between issued capital and the US warrants in accordance with their relative fair values. Fair value of warrants The warrants granted are not traded in an active market and the fair value has thus been estimated by using the Black-Scholes pricing model based on the following assumptions. Key terms of the warrants are included above. The following assumptions were based on observable market conditions that existed at the issue date and at 30 June 2018: Assumption At issue date At 30 June 2018 Rationale Historic volatility 58.0% 55.4% Based on 12-month Exercise price US$2.50 US$2.50 As per subscription agreement Share price US$2.17 US$2.38 Closing share price on valuation date from external market source Risk-free interest rate 1.930% 2.730% Based on the US Government securities yields which match the term of the warrant Dividend yield 0.0% 0.0% Based on the Company’s nil dividend history Fair value per warrant US$1.0716 A$1.3962 US$1.1031 A$1.4900 Determined using Black-Scholes models with the inputs above Fair value A$2,755,375 A$2,945,358 Fair value of 1,973,451 warrants |
Non Current Liabilites - Conver
Non Current Liabilites - Convertible Note | 12 Months Ended |
Jun. 30, 2018 | |
Non Current Liabilites - Convertible Note | NOTE 15. NON CURRENT LIABILITIES – CONVERTIBLE NOTE Consolidated June 30, 2018 June 30, 2017 Convertible note at fair value at beginning of reporting period 5,778,984 5,027,168 Net change in fair value 866,848 751,816 Convertible note at fair value at end of reporting period 6,645,832 5,778,984 On May 11, 2015, the Company entered into a subscription agreement with Ridgeback Capital Investments (Ridgeback) to invest in Convertible Notes and Warrants of the Company for cash consideration totaling $13,750,828, which was subject to shareholder approval at an Extraordinary General Meeting. Shareholder approval was received on July 31, 2015. The 13,750,828 Convertible Notes issued have a face value of $1.00 per note which are exercisable at a price of $0.02 per share, mature on August 4, 2025 and accrue interest at a rate of 3% per annum which may also be converted into shares. Conversions may occur during the period (i) at least 3 months after the Issue Date and (ii) at least 15 business days prior to the maturity date into 50 ordinary shares of the Company per note (subject to customary adjustments for rights or bonus issues, off market buybacks, issues at less than current market price, share purchase plan, dividend reinvestment plan at a discount, return of capital or dividend or other adjustment). If a change of control event, delisting event or event of default has occurred, Ridgeback may elect to convert the notes into shares or repayment of principal and interest. The Convertible Notes rank at least equal with all present and future unsubordinated and unsecured debt obligations of the Company and contain customary negative pledges regarding financial indebtedness, dividend payments, related party transaction and others. 8,475,995 Warrants were granted to Ridgeback which are exercisable at a price of $0.025 per share on or before August 4, 2025. 371,445,231 Warrants were granted to Ridgeback which are exercisable at a price of $0.0237 per share on or before 4 August 2020. All warrants may be settled on a gross or net basis and the number of warrants or exercise price may be adjusted for a pro rata issue of shares, a bonus issue or capital reorganization. The Warrants do not confer any rights to dividends or a right to participate in a new issue without exercising the warrant. (i) Fair value of convertible notes The following assumptions were used to determine the initial fair value of the debt component of the convertible note which were based on market conditions that existed at the grant date: Assumption Convertible Rationale Historic volatility 85.0 % Based on the Company’s historical volatility data Share price $ 0.051 Closing market share price on July 31, 2015 Risk free interest rate 2.734 % Based on Australian Government securities yields which match the term of the convertible note Risk adjusted interest rate 15.0 % An estimate of the expected interest rate of a similar non-convertible Dividend yield 0.0 % Based on the Company’s nil dividend history Risk free rate 2.734 % Based on 10 year Australian Government securities yield The fair value of the convertible note is allocated between a financial liability for the traditional note component of the convertible note and into equity which represents the conversion feature. The traditional note component of the convertible note was initially recorded at fair value of $4.4m, based on the present value of the contractual cash flows of the note discounted at 15%. After initial recognition, the liability component of the convertible note has been measured at fair value as required by AASB 2 (IFRS 2). The remaining value of the convertible note was allocated to the conversion feature and recognized as equity. Note – Conversion Fair value at issuance 4,419,531 41,431,774 Fair value movements 2,226,301 — Balance at June 30, 2018 6,645,832 41,431,774 |
Current Liabilities - Employee
Current Liabilities - Employee Benefits | 12 Months Ended |
Jun. 30, 2018 | |
Current Liabilities [member] | |
Current Liabilities - Employee Benefits | NOTE 16. CURRENT LIABILITIES – EMPLOYEE BENEFITS Consolidated June 30, 2018 June 30, 2017 Annual leave 189,514 43,227 The current provision for employee benefits is in relation to accrued annual leave and covers all unconditional entitlements where employees have completed the required period of service. The entire amount of the provision is presented as current, since the group does not have an unconditional right to defer settlement for any of these obligations. |
Non-current Liabilities [member] | |
Current Liabilities - Employee Benefits | NOTE 17. NON CURRENT LIABILITIES – EMPLOYEE BENEFITS Consolidated June 30, 2018 June 30, 2017 Long service leave 32,303 20,498 |
Contributed Equity
Contributed Equity | 12 Months Ended |
Jun. 30, 2018 | |
Contributed Equity | NOTE 18. CONTRIBUTED EQUITY Consolidated Note June 30, 2018 June 30, 2017 Fully paid ordinary shares 18(a) 203,570,765 185,690,589 Options over ordinary shares – listed 9,661,954 9,661,954 213,232,719 195,352,543 (a) Ordinary Shares June 30, 2018 June 30, 2017 Note No. A$ No. A$ At the beginning of reporting period 2,079,742,938 185,690,589 2,061,630,944 184,868,978 Shares issued during year 18(b) 889,880,270 16,968,200 — — Exercise of options and warrants (Shares issued during the year) 18(b) 56,459,461 1,737,497 18,111,994 830,144 Transaction costs relating to share issues — (825,521 ) — (8,533 ) At reporting date 3,026,082,669 203,570,765 2,079,742,938 185,690,589 (b) Shares issued 2018 Details Number Issue Price Total Shares issued under Securities Purchase Agreement 263,126,800 0.01 3,806,390 Performance rights exercised (transfer from share-based payment reserve) 56,459,461 0.03 1,737,497 Share placement 326,192,381 0.021 6,850,040 Shares issued under Securities Purchase Agreement 300,561,089 0.021 6,311,770 946,339,731 18,705,697 2017 Details Number Issue Price Total Performance rights exercised(transfer from share-based payment reserve) 18,111,991 0.05 830,143 Options exercised 3 0.20 1 18,111,994 830,144 Ordinary shares Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have no par value and the company does not have a limited amount of authorized capital. On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote. Options Information relating to the Company’s Global Employee Share Option Plan, including details of options issued, exercised and lapsed during the financial year and options outstanding at the end of the reporting period, is set out in note 30. Unlisted Options Expiration Date Exercise Price Number December 12, 2018 $ 0.05019 147,628,500 August 4, 2020 $ 0.0237 371,445,231 October 30, 2020 $ 0.057 793,103 March 7, 2021 $ 0.04 1,026,272 August 4, 2025 $ 0.025 8,475,995 November 5, 2023 USD 0.025 197,345,100 * Total 726,714,201 * 1 American Depository Shares (ADS) listed on NASDAQ equals 100 ordinary shares listed on ASX thus the number of warrants on issue has been grossed up and the exercise price adjusted accordingly in the above table to be comparable. Share buy-back There is no current on-market buy-back. Capital risk management The consolidated entity’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital . In order to maintain or adjust the capital structure, the consolidated entity may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. The consolidated entity would look to raise capital when an opportunity to invest in a business or company was seen as value adding relative to the current parent entity’s share price at the time of the investment. The consolidated entity is not actively pursuing additional investments in the short term as it continues to integrate and grow its existing businesses in order to maximize synergies. |
Equity - Reserves and Retained
Equity - Reserves and Retained Earnings | 12 Months Ended |
Jun. 30, 2018 | |
Equity - Reserves and Retained Earnings | NOTE 19. EQUITY – RESERVES AND RETAINED EARNINGS Consolidated June 30, 2018 June 30, 2017 (a) Reserves Options issued reserve 19,116,205 19,116,205 Conversion feature of convertible note reserve 41,431,774 41,431,774 Foreign currency translation reserve 1,096,368 (232,751 ) Share-based payment reserve 3,229,693 2,703,347 64,874,040 63,018,575 Movement in options issued reserve were as follows: Opening balance 19,116,205 19,116,205 Ending balance 19,116,205 19,116,205 Movements in conversion feature of convertible note reserve: Opening balance 41,431,774 41,431,774 Ending balance 41,431,774 41,431,774 Movement in foreign currency translation reserve were as follows: Opening balance (232,751 ) 38,945 Currency translation differences arising during the year 1,329,119 (271,696 ) Ending balance 1,096,368 (232,751 ) Movement in share-based payment reserve were as follows: Opening balance 2,703,347 2,671,263 Employee options issued during the year 2,263,843 862,227 Exercise of vested performance rights (1,737,497 ) (830,143 ) Ending balance 3,229,693 2,703,347 (b) Accumulated losses Movement in accumulated losses were as follows: Opening balance (231,838,812 ) (222,471,606 ) Net loss for the year (12,746,020 ) (9,367,206 ) Balance (244,584,832 ) (231,838,812 ) (c) Nature and purpose of reserves (i) Options issued reserve On August 4, 2015 warrants were granted to Ridgeback Capital Investments. 8,475,995 Warrants were granted which are exercisable at a price of $0.025 per share on or before August 4, 2025. 371,445,231 Warrants were granted which are exercisable at a price of $0.0237 per share on or before August 4, 2020. All warrants may be settled on a gross or net basis and the number of warrants or exercise price may be adjusted for a pro rata issue of shares, a bonus issue or capital reorganisation. The Warrants do not confer any rights to dividends or a right to participate in a new issue without exercising the warrant. For further information, refer to note 15. In December 2014, the Company issued 200,000,000 warrants at an exercise price of $0.05019 to the vendors of Immutep S.A. The options expire on October 2, 2017 and December 12, 2018. Each option and warrant is exercisable for one ordinary share in the capital of the Company. For the year ended 30 June 2018 and 2017 no warrants were exercised by vendors of Immutep S.A., and as at June 30, 2016, 52,371,500 warrants were exercised by the vendors of Immutep S.A. The options held are exercisable at any time before its expiry date. (ii) Conversion feature of convertible note reserve This amount relates to the conversion feature of the convertible note issued to Ridgeback Capital Investments which has been measured at fair value as required by AASB 2 (IFRS 2). For further information, refer to note 15. (iii) Foreign currency translation reserve Exchange differences arising on translation of the foreign controlled entity a recognized in other comprehensive loss as described in note 1(d) and accumulated in a separate reserve within equity. The cumulative amount is reclassified to profit or loss when the net investment is disposed of. (iv) Share-based payments reserve The share-based payments reserve is used to recognize the grant date fair value of options and performance rights issued to employees but not exercised. For a reconciliation of movements in the share-based payment reserves refer to note 30. |
Dividends
Dividends | 12 Months Ended |
Jun. 30, 2018 | |
Dividends | NOTE 20. DIVIDENDS There were no dividends paid or declared during the current or previous fiscal year. |
Key Management Personnel Disclo
Key Management Personnel Disclosures | 12 Months Ended |
Jun. 30, 2018 | |
Key Management Personnel Disclosures | NOTE 21. KEY MANAGEMENT PERSONNEL DISCLOSURES (a) Directors and key management personnel compensation Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Short-term employee benefits 1,521,119 1,256,272 1,300,140 Long-term employee benefits 11,429 6,879 5,817 Post-employment benefits 36,370 38,184 42,471 Share-based payments 1,740,238 637,637 1,824,643 3,309,156 1,938,972 3,173,071 (b) Equity instrument disclosures relating to key management personnel (i) Options provided as remuneration and shares issued on exercise of such options For details of options provided as remuneration and shares issued on the exercise of such options, together with terms and conditions of the options, please refer to note 30. (ii) Shareholding The numbers of shares in the company held during the financial year by each director of and other key management personnel of the group, including their personally related parties, are set out below. There were no shares granted during the reporting period as compensation. 2018 Balance at start Received during the Received during the Other changes Balance at end Ordinary shares Dr Russell Howard — — — — — Mr Pete Meyers 6,862,744 2,672,093 — — 9,534,837 Mr Marc Voigt 18,271,960 45 * 23,333,333 — — — — 41,605,293 45 Mr Grant Chamberlain — — — — — Ms Lucy Turnbull, AO** 20,359,576 — — (20,359,576 ) — Mr Albert Wong** 3,837,500 — — (3,837,500 ) — Ms Deanne Miller 8,243,572 12,333,334 — (808,488 ) 19,768,418 Dr Frédéric Triebel 15,978,049 16,486,326 — — 32,464,375 Total ordinary shares 73,553,401 54,825,086 — (25,005,564 ) 103,372,923 Total ADR 45 — — — 45 * American Depository Receipts (ADR) traded on the NASDAQ ** At the date of resignation, the shareholding balance for Ms Lucy Turnbull and Mr Albert Wong are 20,359,576 shares and 3,837,500 shares respectively. The changes during the year is not the actual disposal of the shares. It represents derecognition due to the fact that they ceased to be directors of the company. June 30, 2017 Balance at Received during the Received during Other changes Balance at end Ordinary shares Ms. Lucy Turnbull, AO 20,359,576 — — — 20,359,576 Mr. Albert Wong 3,837,500 — — — 3,837,500 Dr. Russell Howard — — — — — Mr. Pete Meyers 4,289,215 2,573,529 — — 6,862,744 Mr. Marc Voigt 11,605,293 150 * 6,666,667 — — — — (105 )* 18,271,960 45 * Ms. Deanne Miller 4,950,980 4,000,000 — (707,408 ) 8,243,572 Dr. Frédéric Triebel 12,644,716 3,333,333 — — 15,978,049 Total ordinary shares 57,687,280 16,573,529 — (707,408 ) 73,553,401 Total ADSs 150 — — (105 ) 45 * American Depositary Shares (ADSs) traded on the NASDAQ. The change is due to the change of ADS ration from 30:1 to 100:1 during the fiscal year 2017. June 30, 2016 Balance at Received during Received during Other changes Balance at end Ordinary shares Ms. Lucy Turnbull, AO 20,059,576 — — 300,000 20,359,576 Mr. Albert Wong 3,537,500 — — 300,000 3,837,500 Dr. Russell Howard — — — — — Mr. Pete Meyers 1,715,686 2,573,529 — — 4,289,215 Mr. Marc Voigt 870,000 150 * 10,735,293 — — — — — 11,605,293 150 * Ms. Deanne Miller 20,924 6,450,980 — (1,520,924 ) 4,950,980 Dr. Frédéric Triebel 9,311,383 3,333,333 — — 12,644,716 Total ordinary shares 35,515,069 23,093,135 — (920,924 ) 57,687,280 Total ADSs 150 — — — 150 * American Depositary Shares (ADSs) traded on the NASDAQ (iii) Option holdings The number of options over ordinary shares in the parent entity held during the financial year by each director and other members of key management personnel of the consolidated entity, including their personally related parties, is set out below: June 30, 2018 Balance at Granted Exercised Other Balance at Vested and Unvested Options over ordinary shares Dr. Russell Howard — — — — — — — Mr. Pete Meyers — — — — — — — Mr. Marc Voigt 1 643,629 — — (643,629 ) — — — Mr Grant Chamberlain — — — — — — — Ms Lucy Turnbull, AO — — — — — — — Mr Albert Wong — — — — — — — Ms. Deanne Miller 1 121,212 — — (121,212 ) — — — Dr Frédéric Triebel 2 24,000,600 — — — 24,000,600 24,000,600 — 24,765,441 — — (764,841 ) 24,000,600 24,000,600 — 1 The above options lapsed during the year ended 30 June 2018. 2 This amount represents warrants which were issued to Dr Frédéric Triebel upon the acquisition of Immutep. June 30, 2017 Balance at Granted Exercised Other Balance at Vested and Unvested Options over ordinary shares Ms. Lucy Turnbull, AO 1 4,439,894 — — (4,439,894 ) — — — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers — — — — — — — Mr. Marc Voigt 1 721,754 — — (78,125 ) 643,629 643,629 — Ms. Deanne Miller 121,212 — — — 121,212 121,212 — Dr Frédéric Triebel 24,000,600 — — — 24,000,600 24,000,600 — 29,283,460 — — (4,518,019 ) 24,765,441 24,765,441 — 1 The above options lapsed during the year ended 30 June 2017. June 30, 2016 Balance at Granted Exercised Other Balance at Vested and Unvested Options over ordinary shares Ms. Lucy Turnbull, AO 4,439,894 — — — 4,439,894 4,439,894 — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers — — — — — — — Mr. Marc Voigt 1 1,171,754 — — (450,000 ) 721,754 721,754 — Ms. Deanne Miller 121,212 — — — 121,212 121,212 — Dr Frédéric Triebel 24,000,600 — — — 24,000,600 24,000,600 — 29,733,460 — — (450,000 ) 29,283,460 29,283,460 — 1 The above options lapsed during the year ended 30 June 2016. (iv) Performance rights holdings The number of performance rights over ordinary shares in the parent entity held during the financial year by each director and other members of key management personnel of the consolidated entity, including their personally related parties, is set out below: June 30, 2018 Balance at Granted Exercised Other Balance at Vested and Unvested Rights over ordinary shares — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers 10,881,194 — (2,672,093 ) — 8,209,101 — 8,209,101 Mr. Marc Voigt 18,921,569 50,000,000 (23,333,333 ) — 45,588,236 — 45,588,236 Mr Grant Chamberlain — 13,272,356 — — 13,272,356 — 13,272,356 Ms Lucy Turnbull, AO — — — — — — — Mr Albert Wong — — — — — — — Ms. Deanne Miller 7,676,471 25,000,000 (12,333,334 ) — 20,343,137 — 20,343,137 Dr. Frédéric Triebel 4,819,660 35,000,000 (16,486,326 ) — 23,333,334 — 23,333,334 42,298,894 123,272,356 (54,825,086 ) — 110,746,164 — 110,746,164 June 30, 2017 Balance at Granted Exercised Other Balance at Vested and Unvested Rights over ordinary shares Ms. Lucy Turnbull, AO — — — — — — — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers 3,431,373 10,023,350 (2,573,529 ) — 10,881,194 — 10,881,194 Mr. Marc Voigt 25,588,236 — (6,666,667 ) — 18,921,569 — 18,921,569 Ms. Deanne Miller 11,676,471 — (4,000,000 ) — 7,676,471 — 7,676,471 Dr. Frédéric Triebel 8,152,993 — (3,333,333 ) — 4,819,660 — 4,819,660 48,849,073 10,023,350 (16,573,529 ) — 42,298,894 — 42,298,894 June 30, 2016 Balance at Granted Exercised Other Balance at Vested and Unvested Rights over ordinary shares Ms. Lucy Turnbull, AO — — — — — — — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers 6,004,902 — (2,573,529 ) — 3,431,373 — 3,431,373 Mr. Marc Voigt 16,323,529 20,000,000 (10,735,293 ) — 25,588,235 — 25,588,236 Ms. Deanne Miller 6,127,451 12,000,000 (6,450,980 ) — 11,676,471 — 11,676,471 Dr. Frédéric Triebel — 11,486,326 (3,333,333 ) — 8,152,993 — 8,152,993 28,455,882 43,486,326 (23,093,135 ) — 48,849,072 — 48,849,073 |
Remuneration of Auditors
Remuneration of Auditors | 12 Months Ended |
Jun. 30, 2018 | |
Remuneration of Auditors | NOTE 22. REMUNERATION OF AUDITORS During the year the following fees were paid or payable for services provided by the auditor of the parent entity, its related practices and non-related Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Audit fees PricewaterhouseCoopers Australia Audit or review of the financial report 258,570 234,250 232,000 Other audit and assurance services in relation to regulatory filings overseas — 200,000 209,741 Total remuneration of PricewaterhouseCoopers Australia 258,570 434,250 441,741 |
Contingent Liabilities
Contingent Liabilities | 12 Months Ended |
Jun. 30, 2018 | |
Contingent Liabilities | NOTE 23. CONTINGENT LIABILITIES There were no material contingent liabilities in existence at June 30, 2018 and June 30, 2017. |
Commitments for Expenditure
Commitments for Expenditure | 12 Months Ended |
Jun. 30, 2018 | |
Commitments for Expenditure | NOTE 24. COMMITMENTS FOR EXPENDITURE Consolidated 30 June 2018 30 June 2017 Lease commitments—operating Committed at the reporting date but not recognised as liabilities, payable: Within one year 117,562 — One to five years 21,600 — 139,162 — Operating lease commitments includes contracted amounts for leases of premises under non-cancellable |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions | NOTE 25. RELATED PARTY TRANSACTIONS Parent entity Immutep Limited is the parent entity. Subsidiaries Interests in subsidiaries are set out in note 26. Key management personnel Disclosures relating to key management personnel are set out in note 21. Transactions with related parties The following transaction occurred with related parties: Consolidated 30 June 2018 30 June 2017 In addition to Director’s fees, Consultancy fees for post directorship executive duties were paid to Barton Place Pty Ltd, a corporation in which Albert Wong has a beneficial interest 49,500 — Receivable from and payable to related parties There were no trade receivables from or trade payables due to related parties at the reporting date. Loans to/from related parties There were no loans to or from related parties at the reporting date. |
Subsidiaries
Subsidiaries | 12 Months Ended |
Jun. 30, 2018 | |
Subsidiaries | NOTE 26. SUBSIDIARIES The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1: Equity holding Name of entity Country of June 30, 2018 June 30, 2017 Immutep U.S., Inc United States 100.00 100.00 PRR Middle East FZ LLC United Arab Emirates 100.00 100.00 Immutep GmbH Germany 100.00 100.00 Immutep Australia Pty Ltd Australia 100.00 100.00 Immutep IP Pty Ltd Australia 100.00 100.00 Immutep S.A.S. France 100.00 100.00 |
Events Occurring After the Repo
Events Occurring After the Reporting Date | 12 Months Ended |
Jun. 30, 2018 | |
Events Occurring After the Reporting Date | NOTE 27. EVENTS OCCURRING AFTER THE REPORTING DATE On July 31, 2018, the company received approval of its Investigational New Drug (“IND”) application by the U.S. Food and Drug Administration (“FDA”) for eftilagimod alpha (“efti” or “IMP321”), a LAG-3Ig On August 7, 2018 the company announced the grant of Canadian patent no. 2,685,584 entitled “Cytotoxic anti-LAG-3 On August 21, 2018 the company announced that it had received a €1,221,906 cash rebate from the French Government under its Crédit d’Impôt Recherche scheme (CIR). On September 24, 2018, the company announced that it has entered into a clinical trial collaboration and supply agreement with Merck KGaA, Darmstadt, Germany and Pfizer Inc., to evaluate the combination of Immutep’s lead immunotherapy product candidate eftilagimod alpha (“efti” or “IMP321”) with avelumab. During the period from September 27, 2018 to October 5, 2018, the company received USD 1.05 million of proceeds from the exercising of ADS Warrants by the US investors. |
Reconciliation of Loss After In
Reconciliation of Loss After Income Tax to Net Cash Used in Operating Activities | 12 Months Ended |
Jun. 30, 2018 | |
Reconciliation of Loss After Income Tax to Net Cash Used in Operating Activities | NOTE 28. RECONCILIATION OF LOSS AFTER INCOME TAX TO NET CASH USED IN OPERATING ACTIVITIES Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Loss after income tax expense for the year (12,746,020 ) (9,367,206 ) (62,015,184 ) Adjustments for: Depreciation and amortization 1,808,929 1,701,615 1,993,093 Add back share based payments 2,263,843 862,227 2,058,659 Changes in fair value of US investor warrant 189,983 — — US warrants transaction costs 493,487 — — Non-cash — — 47,468,071 Changes in fair value of comparability milestone — — 542,075 Add back (gain) on disposal of assets — — (18,493 ) Add back Non-cash — — — Unrealized (gain)/loss on exchange through the profit and loss (401,557 ) (218,567 ) 844,864 Net change in fair value of convertible note liability 866,848 751,816 607,637 Change in operating assets and liabilities: (Increase) in current receivables (1,237,978 ) (2,025,716 ) (394,922 ) Decrease/(increase) in other operating assets (247,396 ) (865,245 ) 324,983 (Decrease)/increase in trade and other payables 1,075,067 1,377,141 (1,491,882 ) Increase/(decrease) in employee benefits 158,091 (7,120 ) (45,165 ) (Decrease)/increase in income tax payable — (21,549 ) 712 (Decrease) in deferred tax liability — (694,194 ) (1,184,139 ) Net cash used in operating activities (7,776,703 ) (8,506,798 ) (11,309,691 ) |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share | NOTE 29. EARNINGS PER SHARE Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Loss after income tax attributable to the owners of Immutep Limited (12,746,020 ) (9,367,206 ) (62,015,184 ) Number Number (Restated)* Number Weighted average number of ordinary shares used in calculating basic earnings per share 2,608,328,140 2,284,360,994 2,228,477,348 Weighted average number of ordinary shares used in calculating diluted earnings per share 2,608,328,140 2,284,360,994 2,228,477,348 Cents Cents Cents Basic earnings per share (0.49 ) (0.41 ) (2.78 ) Diluted earnings per share (0.49 ) (0.41 ) (2.78 ) * The Group updated the 2017 and 2016 EPS figure to reflect the bonus shares issue arising from the capital raising in fiscal year 2018. The following table summarizes the convertible notes, performance rights, listed options and unlisted options that were not included in the calculation of weighted average number of ordinary shares because they are anti-dilutive for the periods presented. Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Listed options — — 77,378,693 Unlisted options 529,369,101 531,049,969 531,049,969 Convertible notes 797,171,907 727,075,050 706,476,966 Performance rights 108,964,706 33,852,075 51,310,083 Non-executive 21,481,457 10,881,194 3,431,373 US warrants* 197,345,100 — — * 1 American Depository Shares (ADS) listed on NASDAQ equals 100 ordinary shares listed on ASX thus the number of warrants on issue has been grossed up. |
Share - Based Payment
Share - Based Payment | 12 Months Ended |
Jun. 30, 2018 | |
Share - Based Payment | NOTE 30. SHARE-BASED PAYMENTS a) Executive Incentive Plan (EIP) Equity incentives are granted under the Executive Incentive Plan (EIP) which was approved by shareholders at the 2015 Annual General Meeting. In light of our increasing operations globally the Board reviewed the Company’s incentive arrangements to ensure that it continued to retain and motivate key executives in a manner that is aligned with members’ interests. As a result of that review, an ‘umbrella’ EIP was adopted to which eligible executives are invited to apply for the grant of performance rights and/or options. Equity incentives granted in accordance with the EIP Rules are designed to provide meaningful remuneration opportunities and will reflect the importance of retaining a world-class management team. The Company endeavors to achieve simplicity and transparency in remuneration design, whilst also balancing competitive market practices in France, Germany, and Australia. The company grants Short Term Incentives (STIs) and Long Term Incentives (LTIs) under the EIP. Set out below are summaries of all STI and LTI performance rights granted under the EIP excluding the performance rights issued to non-executive 2018 Grant date Fair Balance at Granted Exercised Lapsed during Balance at Vested and September 19, 2014 0.044 2,757,353 — — — 2,757,353 — September 19, 2014 0.044 919,118 — — — 919,118 — November 14, 2014 0.038 9,191,177 — — — 9,191,177 — November 14, 2014 0.040 3,063,725 — — — 3,063,725 — August 5, 2015 0.047 14,000,001 — (14,000,001 ) — — — October 1, 2015 0.060 600,000 — — — 600,000 — October 1, 2015 0.061 200,000 — — — 200,000 — March 7, 2016 0.041 1,486,326 — (1,486,326 ) — — — February 10, 2017 0.035 1,634,375 — (1,634,375 ) — — — 2 August 2017 0.020 — 3,900,000 — — 3,900,000 — November 17, 2017 0.024 — 50,000,000 (16,666,667 ) — 33,333,333 — November 28, 2017 0.023 — 15,000,000 — — 15,000,000 15,000,000 November 29, 2017 0.023 — 60,000,000 (20,000,000 ) — 40,000,000 — Total 33,852,075 128,900,000 (53,787,369 ) — 108,964,706 15,000,000 2017 Grant date Fair Balance at Granted Exercised Lapsed during Balance at Vested and September 19, 2014 0.044 5,422,794 — — (2,665,441 ) 2,757,353 — September 19, 2014 0.044 1,807,598 — — (888,480 ) 919,118 — November 14, 2014 0.038 9,191,177 — — — 9,191,177 — November 14, 2014 0.040 3,063,725 — — — 3,063,725 — August 5, 2015 0.047 28,000,001 — (14,000,000 ) — 14,000,001 — October 1, 2015 0.060 600,000 — — — 600,000 — October 1, 2015 0.061 200,000 — — — 200,000 — December 29, 2015 0.050 1,538,462 — (1,538,462 ) — — — March 7, 2016 0.041 1,486,326 — — — 1,486,326 — February 10, 2017 0.035 — 1,634,375 — — 1,634,375 — Total 51,310,083 1,634,375 (15,538,462 ) (3,553,921 ) 33,852,075 — The fair value at grant date for Short Term Incentive (STI) performance rights are determined using a Black-Scholes option pricing model that takes into account the exercise price, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option. The model inputs for STI performance rights granted during the year ended June 30, 2018 included: Grant date August 2, 2017 November 17, 2017 November 28, 2017 November 29, 2017 Share price at grant date $ 0.020 $ 0.024 $ 0.023 $ 0.023 Expected price volatility of the Company’s shares 49% 73% 74% 74% Expected dividend yield Nil Nil Nil Nil Risk-free interest rate 1.75% 1.79% 1.88% 1.73% The model inputs for STI performance rights granted during the year ended June 30, 2017 included: Grant date February 10, Share price at grant date $ 0.035 Expected price volatility of the Company’s shares 54% Expected dividend yield Nil Risk-free interest rate 1.80% The model inputs for STI performance rights granted during the year ended June 30, 2016 included: Grant date August 5, December 29, March 7, Share price at grant date $ 0.047 $ 0.050 $ 0.041 Expected price volatility of the Company’s shares 167% 169% 169% Expected dividend yield Nil Nil Nil Risk-free interest rate 2.03% 1.97% 2.14% The fair value at grant date for 42,000,000 long term incentives issued on August 5, 2015 are determined using a Black Scholes option pricing model that takes into account the exercise price, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option. The model inputs for these performance rights granted included: Grant date August 5, 2015 Measurement period August 5, 2015 to August 5, 2017 Share price at grant date $ 0.047 Expected price volatility of the Company’s shares 162% Expected dividend yield Nil Risk-free interest rate 1.95% The fair value at grant date for long term incentives are determined using an “Up and in Call” Barrier Option Pricing Model. The model inputs for performance rights granted during the year ended June 30, 2016 included: Grant date August 5, 2015 October 1, 2015 Measurement period – tranche 1 August 5, 2015 to October 1, 2015 to Measurement period – tranche 2 August 5, 2015 to October 1, 2015 to Barrier price CAGR 20% per annum over CAGR 20% per Share price at grant date $ 0.047 $ 0.058 Expected price volatility of the Company’s shares 120% 120% Expected dividend yield Nil Nil Risk-free interest rate 2.12% 1.94% Set out below are summaries of options granted under the EIP: 2018 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited during Balance at Vested and December 23, 2013 June, 30, 2018 0.0774 1,515,752 — — (1,515,752) — — January 24, 2014 June, 30, 2018 0.0774 165,116 — — (165,116) — — Total 1,680,868 — — (1,680,868) — — Weighted average 0.0774 — 2017 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited during Balance at Vested and December 23, 2013 June, 30, 2018 0.0774 1,515,752 — — — 1,515,752 1,515,752 January 24, 2014 June, 30, 2018 0.0774 165,116 — — — 165,116 165,116 Total 1,680,868 — — — 1,680,868 1,680,868 Weighted average exercise price 0.0774 0.0774 2016 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited during Balance at Vested and December 23, 2013 June, 30, 2018 0.0774 1,515,752 — — — 1,515,752 1,515,752 January 24, 2014 June, 30, 2018 0.0774 165,116 — — — 165,116 165,116 Total 1,680,868 — — — 1,680,868 1,680,868 Weighted average exercise price 0.0774 0.0774 No options expired during the periods covered by the above tables. Fair value of options granted No options were granted during the year ended June 30, 2018 (2017 – Nil). The fair value at grant date is determined using a Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option. (b) Performance rights issued to non-executive At the 2017 annual general meeting, shareholders approved the issue of 13,272,356 performance rights to Mr Grant Chamberlain in lieu of cash for his services as a non-executive Set out below are summaries of performance rights granted with shareholders’ approval. 2018 Grant date Type of Fair Balance at Granted Exercised Lapsed during Balance at Vested and November 14, 2014 Director rights 0.037 857,844 — (857,844 ) — — — November 25, 2016 Director rights 0.038 10,023,350 — (1,814,249 ) — 8,209,101 — November 17, 2017 Director rights 0.024 — 13,272,356 — — 13,272,356 — Total 10,881,194 13,272,356 (2,672,093 ) — 21,481,457 — 2017 Grant date Type of Fair Balance at Granted Exercised Lapsed during Balance at Vested and November 14, 2014 Director rights 0.037 3,431,373 — (2,573,529 ) — 857,844 — November 25, 2016 Director rights 0.038 — 10,023,350 — — 10,023,350 — Total 3,431,373 10,023,350 (2,573,529 ) — 10,881,194 — 2016 Grant date Type of Fair Balance at Granted Exercised Lapsed during Balance at Vested and November 14, 2014 Director rights 0.037 6,004,902 — (2,573,529 ) — 3,431,373 — Total 6,004,902 — (2,573,529 ) — 3,431,373 — Fair value of performance rights granted The fair value at grant date for the performance rights issued to non-executive The model inputs for STI performance rights granted during the year ended 30 June 2018 included: Grant date 17 November 2017 Share price at grant date $0.024 Expected price volatility of the Company’s shares 73% Expected dividend yield Nil Risk-free interest rate 1.79% The model inputs for STI performance rights granted during the year ended June 30, 2017 included: Grant date 25 November 2016 Share price at grant date $ 0.037 Expected price volatility of the Company’s shares 56% Expected dividend yield Nil Risk-free interest rate 1.92% (c) Options issued to other parties During the financial year ended June 30, 2016, options were issued to Ridgeback Capital Investments and Trout Group LLC and these are exercisable at June 30, 2018. Set out below is a summary of the options granted to both parties: 2018 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited Balance at Vested and Number Number Number Number Number Number July 31, 2015 August 5,2020 0.0237 371,445,231 — — — 371,445,231 371,445,231 July 31, 2015 August 5, 2021 0.025 8,475,995 — — — 8,475,995 8,475,995 October 30, 2015 October 30, 2020 0.057 793,103 — — — 793,103 793,103 March 7, 2016 March 7, 2021 0.040 1,026,272 — — — 1,026,272 1,026,272 Total 381,740,601 — — — 381,740,601 381,740,601 Fair value of options granted There were no options granted during the year ended June 30, 2018 (2017 – nil). The fair value at grant date is determined using a Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option. (d) Warrants issued to US investors In July 2017, the Company completed its first US capital raise. In this private placement, the Company agreed to issue unregistered warrants to purchase up to 1,973,451 ADSs. Please refer to note 14 for more details. (e) Expenses arising from share-based payment transactions Total expenses arising from share-based payment transactions recognized during the period as part of employee benefit expense were as follows: Consolidated June 30, 2018 June 30, 2017 Employee share-based payment expense 2,263,843 862,227 2,263,843 862,227 Share-based payment transactions with employees are recognised during the period as a part of corporate administrative expenses. |
Parent Entity Information
Parent Entity Information | 12 Months Ended |
Jun. 30, 2018 | |
Parent Entity Information | NOTE 31. PARENT ENTITY INFORMATION Set out below is the supplementary information about the parent entity. Statement of comprehensive loss Parent June 30, 2018 June 30, 2017 June 30, 2016 Loss after income tax (14,687,752 ) (8,526,159 ) (61,973,221 ) Total comprehensive loss (14,687,752 ) (8,526,159 ) (61,973,221 ) Statement of financial position Parent June 30, 2018 June 30, 2017 Total current assets 23,589,353 13,220,743 Total non current assets 18,698,068 20,936,849 Total assets 42,287,421 34,157,592 Total current liabilities 615,027 1,189,848 Total non current liabilities 10,630,814 6,482,571 Total liabilities 11,245,841 7,672,419 Equity — Contributed equity 213,232,719 195,352,543 — Reserves 64,615,312 63,251,328 — Accumulated losses (246,806,451 ) (232,118,699 ) Total equity 31,041,580 26,485,173 Parent company financial information is presented in order to meet the disclosure requirements of Australian Accounting Standards, which permits investments in subsidiaries to be measured at cost. Guarantees of financial support There are no guarantees entered into by the parent entity. Contingent liabilities of the parent entity Refer to note 23 for details in relation to contingent liabilities as at June 30, 2018 and June 30, 2017. Capital commitments – Property, plant and equipment The parent entity did not have any capital commitments for property, plant and equipment at as June 30, 2018 and June 30, 2017. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2018 | |
Basis of preparation | (a) Basis of preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board (‘AASB’) and the Corporations Act 2001. Immutep Limited is a for-profit (i) Compliance with IFRS The consolidated financial statements of the Immutep Limited group also comply with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). (ii) New and amended standards adopted by the group None of the new standards and amendments to standards that are mandatory for the first time for the financial year beginning July 1, 2017 affected any of the amounts recognized in the current period or any prior periods. (iii) Historical cost convention The financial statements have been prepared under the historical cost convention, except for, where applicable, financial assets and liabilities (including derivative financial instruments), which are subsequently remeasured to fair value with changes in fair value recognized in profit or loss. (iv) Critical accounting estimates The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the consolidated entity’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 3. (v) Authorisation of financial statements The financial statements were authorised for issue, in accordance with a resolution of directors, on October 19, 2018. The directors have the power to amend and reissue the financial report. |
Principles of consolidation | (b) Principles of consolidation Subsidiaries are all entities (included structured entities) over which the group has control. The group controls an entity when the group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. |
Segment reporting | (c) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker (CODM), who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Board of Directors. |
Foreign currency translation | (d) Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (‘the functional currency’). The consolidated financial statements are presented in Australian dollars, which is the Immutep Limited’s functional and presentation currency. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss, except when they are deferred in equity as qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation. Foreign exchange gains and losses that relate to borrowings are presented in the income statement, within finance costs. All other foreign exchange gains and losses are presented separately in the income statement on a net basis. Non-monetary non-monetary non-monetary available-for-sale (iii) Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet • income and expenses for each income statement and statement of comprehensive loss are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and • all resulting exchange differences are recognized in other comprehensive income. On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale. |
Revenue recognition | (e) Revenue recognition Revenue is measured at the fair value of the consideration received or receivable. The group recognizes revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the group’s activities as described below. The group bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. (i) License revenue License revenue is recognized on receipt or where there is reasonable assurance that the license revenue will be received. Other income (i) Interest income Interest income is recognized as interest accrues using the effective interest method. This is a method of calculating the amortized cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. (ii) Grant income Grants from the governments, including Australian Research and Development Rebates and Development Rebates, France’s Crédit d’Impôt Recherche, and Saxony Development Bank (“Sächsische Aufbaubank”) from Germany, are recognized at their fair value when there is a reasonable assurance that the grant will be received and the Company will comply with all attached conditions. Government grants relating to operating costs are recognized in the Statements of Comprehensive Income as grant income. (iii) Miscellaneous income a. Research collaboration income The group receives income from undertaking research collaborations with are recognized when the services have been provided. b. Research material sales The group receives income from the sale of materials supplied to other researchers in order to conduct further studies on LAG-3 |
Income tax | (f) Income tax The income tax expense or benefit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Company’s subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets are recognized for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilize those temporary differences and losses. Deferred tax liabilities and assets are not recognized for temporary differences between the carrying amount and tax bases of investments in foreign operations where the Company is able to control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in the foreseeable future. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. Immutep Limited and its wholly-owned Australian controlled entities have implemented the tax consolidation legislation. As a consequence, these entities are taxed as a single entity and the deferred tax assets and liabilities of these entities are set off in the consolidated financial statements. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income or directly in equity, respectively. |
Business combinations | (g) Business combinations The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the fair value of the assets transferred, liabilities incurred to the former owners of the acquired business and the equity interests issued by the group. The consideration transferred also includes the fair value of any asset or liability resulting from a contingent consideration agreement, and the fair value of any pre-existing Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The group recognizes and non-controlling acquisition-by-acquisition non-controlling Acquisition-related costs are expensed as incurred. The excess of the consideration transferred and the amount of any non-controlling Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognized in profit or loss. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit and loss. |
Impairment of assets | (h) Impairment of assets Goodwill and intangible assets that have a definite useful life are subject to amortization and tested annually for impairment or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial |
Cash and cash equivalents | (i) Cash and cash equivalents For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet. |
Current receivables | (j) Current receivables Current receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less provision for impairment. Amount receivable in relation to Goods and Services Tax (GST) and Value Added Tax (VAT) are due from the local taxation authorities and recorded based on the amount of GST and VAT paid on purchases. They are presented as current assets unless collection is not expected for more than 12 months after the reporting date. Collectability of current receivables is reviewed on an ongoing basis. Receivables which are known to be uncollectible are written off by reducing the carrying amount. An allowance account is used when there is objective evidence that the group will not be able to collect all amounts due. |
Investments and other financial assets | (k) Investments and other financial assets Investments and other financial assets are initially measured at fair value. Transaction costs are included as part of the initial measurement, except for financial assets at fair value through profit or loss. They are subsequently measured at either amortized cost or fair value depending on their classification. Classification is determined based on the purpose of the acquisition and subsequent reclassification to other categories is restricted. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the consolidated entity has transferred substantially all the risks and rewards of ownership. Loans and receivables Loans and receivables are non-derivative Impairment of financial assets The group assesses at the end of each reporting period whether there is any objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes significant financial difficulty of the issuer or obligor; a breach of contract such as default or delinquency in payments; the lender granting to a borrower concessions due to economic or legal reasons that the lender would not otherwise do; it becomes probable that the borrower will enter bankruptcy or other financial reorganization; the disappearance of an active market for the financial asset; or observable data indicating that there is a measurable decrease in estimated future cash flows. The amount of the impairment allowance for loans and receivables carried at amortized cost is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the original effective interest rate. If there is a reversal of impairment, the reversal cannot exceed the amortized cost that would have been recognized had the impairment not been made and is reversed to profit or loss. |
Plant and equipment | (l) Plant and equipment Plant and equipment is stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation on other assets is calculated using the straight-line method to allocate their cost, net of their residual values, over their estimated useful lives as follows: • Computers – 3 years • Plant and equipment – 3-5 • Furniture – 3-5 The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (note 1(h)). Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss. |
Intangible assets | (m) Intangible assets (i) Intellectual property Costs incurred in acquiring intellectual property are capitalized and amortized on a straight line basis over a period not exceeding the life of the patents, which averages 14 years. Where a patent has not been formally granted, the company estimates the life of the granted patent in accordance with the provisional application. Costs include only those costs directly attributable to the acquisition of the intellectual property. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (note 1(h)). (ii) Research and development Research expenditure on internal projects is recognized as an expense as incurred. Costs incurred on development projects (relating to the design and testing of new or improved products) are recognized as intangible assets when it is probable that the project will, after considering its commercial and technical feasibility, be completed and generate future economic benefits and its costs can be measured reliably. The expenditure that could be recognized comprises all directly attributable costs, including costs of materials, services, direct labor and an appropriate proportion of overheads. Other expenditures that do not meet these criteria are recognized as an expense as incurred. As the Company has not met the requirement under the standard to capitalize costs in relation to development, these amounts have been expensed. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Capitalized development costs are recorded as intangible assets and amortized from the point at which the asset is ready for use on a straight line basis over its useful life. (iii) Goodwill Goodwill is measured as described in (note 1(g)). Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is not amortized but it is tested for impairment annually or more frequently if events or changes in circumstances indicate that it might be impaired, and is carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. |
Trade and other payables | (n) Trade and other payables These amounts represent liabilities for goods and services provided to the group prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months from the reporting date. They are recognized initially at their fair value and subsequently remeasured at amortized cost using the effective interest method. |
Compound instruments | (o) Compound instruments Convertible notes, including the attached options and warrants, issued to Ridgeback Capital Investments are accounted for as share based payments when the fair value of the instruments are higher than the consideration received, representing intangible benefits received from the strategic investor. The difference between the fair value and consideration received at issuance of the convertible notes and attached options and warrants is recognised immediately in profit and loss as a share-based payment charge. If options or warrants contain a settlement choice between cash or shares, this settlement choice constitutes a compound feature of the convertible notes, which triggers the separation of debt and equity components to be accounted for separately. The liability component is measured at fair value at initial recognition and subsequent changes in fair value are recognised in profit and loss. The difference between the fair value of the convertible notes and the liability component at inception is accounted as an equity element and not remeasured subsequently. |
Finance costs | (p) Finance costs Finance costs are expensed in the period in which they are incurred. |
Employee benefits | (q) Employee benefits (i) Short-term obligations Liabilities for wages and salaries, including non-monetary non-accumulating (ii) Other long-term employee benefit obligations The liabilities for long service leave and annual leave that are not expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are measured at the present value of expected future payments to be made in respect of services provided by employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. Remeasurements as a result of experience adjustments and changes in actuarial assumptions are recognized in profit or loss. The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period, regardless of when the actual settlement is expected to occur. (iii) Retirement benefit obligations The group does not maintain a group superannuation plan. The group makes fixed percentage contributions for all Australian resident employees to complying third party superannuation funds. The group has no statutory obligation and does not make contributions on behalf of its resident employees in the USA and Germany. The group’s legal or constructive obligation is limited to these contributions. Contributions to complying third party superannuation funds are recognized as an expense as they become payable. (iv) Share-based payments Share-based compensation benefits are provided to employees via the Executive Incentive Plan (EIP). Information relating to these schemes is set out in note 30. The fair value of performance rights and options granted under the EIP are recognized as an employee benefits expense with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the options granted, which includes any market performance conditions and the impact of any non-vesting non-market Non-market non-marketing (v) Termination benefits Termination benefits are payable when employment is terminated before the normal employment contract expiry date. The group recognizes termination benefits when it is demonstrably committed to terminating the employment of current employees. (vi) Bonus plan The group recognizes a liability and an expense for bonuses. The group recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation. |
Contributed equity | (r) Contributed equity Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
Earnings per share | (s) Earnings per share (i) Basic earnings per share Basic earnings per share is calculated by dividing: • the profit or loss attributable to owners of the Company • by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the year. Bonus elements have been included in the calculation of the weighted average number of ordinary shares and has been retrospectively applied to the prior financial year. (ii) Diluted earnings per share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account: • the after income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and • the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. |
Goods and Services Tax and other similar taxes ('GST') | (t) Goods and Services Tax and other similar taxes (‘GST’) Revenues, expenses and assets are recognized net of the amount of associated GST, unless the GST incurred is not recoverable from the taxation authority. In this case it is recognized as part of the cost of acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the taxation authority is included with other receivables or payables in the balance sheet. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the taxation authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority. |
New Accounting Standards and Interpretations not yet mandatory or early adopted | (u) New Accounting Standards and Interpretations not yet mandatory or early adopted Certain new accounting standards and interpretations have been published that are not mandatory for June 30, 2018 reporting periods and have not been early adopted by the company. The company’s assessment of the impact of these new standards and interpretations is set out below: (i) AASB 15 (IFRS 15) Revenue from Contracts with Customers—The AASB has issued a new standard for the recognition of revenue. This will replace AASB 118 (IAS 18) which covers revenue arising from the sale of goods and the rendering of services and AASB 111 (IAS 11) which covers construction contracts. The new standard is based on the principle that revenue is recognised when control of a good or service transfers to a customer. The standard permits either a full retrospective or a modified retrospective approach for the adoption. It applies to annual reporting periods commencing on or after 1 January 2018. The impact of the new standard on the financial statements when applied to future periods will depend on the Group’s sources of revenues at the time of adoption of the new standard. The Group currently has limited sources of revenue as it is still in the research and development phase and has assessed that the new revenue standard will have minimal impact. The Group plans to use the modified retrospective approach for the adoption. (ii) AASB 9 (IFRS 9) Financial Instruments—AASB 9 (IFRS 9) addresses the classification, measurement and derecognition of financial assets and financial liabilities, introduces new rules for hedge accounting and a new impairment model for financial assets. It applies to annual reporting periods commencing on or after 1 January 2018. Management has assessed the impact of the new standard on the financial statements when applied to future periods and expects it to have limited impact. (iii) AASB 16 (IFRS 16) Leases—The AASB 16 (IFRS 16) has issued a new standard for the accounting of leases. The new standard will predominantly affect lessees, with almost all leases brought onto the balance sheet. It applies to annual reporting periods commencing on or after 1 January 2019. Management has yet to fully assess the impact of the new standard on the financial statements when applied to future periods, although the Group currently has no significant off-balance There are no other standards and interpretations that are not yet effective and that are expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions. |
Parent entity financial information | (v) Parent entity financial information The financial information for the parent entity, Immutep Limited, disclosed in note 31 has been prepared on the same basis as the consolidated financial statements, except as set out below. (i) Investments in subsidiaries, associates and joint venture entities Investments in subsidiaries are accounted for at cost in the financial statements of Immutep Limited. (ii) Tax consolidation legislation Immutep Limited and its wholly-owned Australian controlled entities have implemented the tax consolidation legislation. The head entity, Immutep Limited, and the controlled entities in the tax consolidated group account for their own current and deferred tax amounts. These tax amounts are measured as if each entity in the tax consolidated group continues to be a stand-alone taxpayer in its own right. The entities have also entered into a tax funding agreement under which the wholly-owned entities fully compensate for any current tax payable assumed and are compensated by the head entity for any current tax receivable and deferred tax assets relating to unused tax losses or unused tax credits that are transferred to the head entity under the tax consolidation legislation. The funding amounts are determined by reference to the amounts recognized in the wholly-owned entities’ financial statements. The amounts receivable/payable under the tax funding agreement are due upon receipt of the funding advice from the head entity, which is issued as soon as practicable after the end of each financial year. The head entity may also require payment of interim funding amounts to assist with its obligations to pay tax instalments. Assets or liabilities arising under tax funding agreements with the tax consolidated entities are recognized as current amounts receivable from or payable to other entities in the group. Any difference between the amounts assumed and amounts receivable or payable under the tax funding agreement are recognized as a contribution to (or distribution from) wholly-owned tax consolidated entities. (iii) Share-based payments The grant by the company of options over its equity instruments to the employees of subsidiary undertakings in the group is treated as a capital contribution to that subsidiary undertaking. The fair value of employee services received, measured by reference to the grant date fair value, is recognized over the vesting period as an increase to investment in subsidiary undertakings, with a corresponding credit to equity. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Depreciation on Other Assets Estimated Useful Lives | Depreciation on other assets is calculated using the straight-line method to allocate their cost, net of their residual values, over their estimated useful lives as follows: • Computers – 3 years • Plant and equipment – 3-5 • Furniture – 3-5 |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Exposure to Foreign Currency Risk | The group’s exposure to foreign currency risk at the end of the reporting period, expressed in Australian dollar, was as follows: June 30, 2018 June 30, 2017 USD EUR USD EUR Cash in bank 7,788,802 2,163,426 712,680 7,449,288 Trade and other receivables — 2,541,056 — 5,024 Trade and other payables (1,226,364 ) (315,485 ) (135,820 ) (858,305 ) |
Summary of Credit Quality of Financial Assets | The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings: June 30, 2018 June 30, 2017 $ $ Cash at bank and short-term bank deposits Minimum rating of A 23,475,521 12,236,974 |
Summary of Contractual Undiscounted Cash Flows | The amounts disclosed in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances as the impact of discounting is not significant. Contractual maturities of financial liabilities At June 30, 2018 Less than More than Total Carrying Non-Derivatives Trade and other payables 3,663,849 — 3,663,849 3,663,849 Convertible note liability (refer note 15) — 17,876,076 17,876,076 6,645,832 3,663,849 17,876,076 21,539,925 10,309,681 Contractual maturities of financial liabilities At June 30, 2017 Less than More than Total Carrying Non-Derivatives Trade and other payables 2,588,781 — 2,588,781 2,588,781 Convertible note liability (refer note 15) — 17,876,076 17,876,076 5,778,984 2,588,781 17,876,076 20,464,857 8,367,765 |
Summary of Financial Assets and Financial Liabilities Measured and Recognized at Fair Value | The following table presents the group’s financial assets and financial liabilities measured and recognized at fair value at June 30, 2018 and June 30, 2017 on a recurring basis: At June 30, 2018 Level 1 Level 2 $ Level 3 $ Total $ Liabilities Convertible note liability — — 6,645,832 6,645,832 Warrant liability — 2,945,358 — 2,945,358 Total liabilities — 2,945,358 6,645,832 9,591,190 At June 30, 2017 Level 1 Level 2 $ Level 3 $ Total $ Liabilities Convertible note liability — — 5,778,984 5,778,984 Total liabilities — — 5,778,984 5,778,984 |
Non Current Liabilites - Conv_2
Non Current Liabilites - Convertible Note (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Assumptions Which were Based on Market Conditions that Existed at Grant Date | The following table summarizes the quantitative information about the significant inputs used in level 3 fair value measurements: Description Fair value at Unobservable inputs Range of inputs Convertible note 6,645,832 Face value $ 13,750,828 Interest rate of note 3 % Risk adjusted interest rate 15 % |
Summary of Convertible Note | Consolidated June 30, 2018 June 30, 2017 Convertible note at fair value at beginning of reporting period 5,778,984 5,027,168 Net change in fair value 866,848 751,816 Convertible note at fair value at end of reporting period 6,645,832 5,778,984 |
Summary of Fair Value of Convertible Notes | Note – Conversion Fair value at issuance 4,419,531 41,431,774 Fair value movements 2,226,301 — Balance at June 30, 2018 6,645,832 41,431,774 |
Convertible Notes [member] | |
Summary of Assumptions Which were Based on Market Conditions that Existed at Grant Date | The following assumptions were used to determine the initial fair value of the debt component of the convertible note which were based on market conditions that existed at the grant date: Assumption Convertible Rationale Historic volatility 85.0 % Based on the Company’s historical volatility data Share price $ 0.051 Closing market share price on July 31, 2015 Risk free interest rate 2.734 % Based on Australian Government securities yields which match the term of the convertible note Risk adjusted interest rate 15.0 % An estimate of the expected interest rate of a similar non-convertible Dividend yield 0.0 % Based on the Company’s nil dividend history Risk free rate 2.734 % Based on 10 year Australian Government securities yield |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Operating Segment Information | Operating segment information June 30, 2018 Cancer Consolidated Revenue License revenue 2,630,484 — 2,630,484 Other income Miscellaneous income 1,008,678 — 1,008,678 Grant income 3,214,441 — 3,214,441 Other income — 322,518 322,518 Interest income — 177,186 177,186 Total revenue and other income 6,853,603 499,704 7,353,307 Segment Result (13,054,065 ) 309,721 (12,744,344 ) Profit/(loss) before income tax expense (13,054,065 ) 309,721 (12,744,344 ) Income tax benefit — (1,676 ) Loss after income tax expense (12,746,020 ) Total segment assets 46,998,783 — 46,998,783 Total segment liabilities 13,476,856 — 13,476,856 June 30, 2017 Cancer Unallocated Consolidated Revenue License revenue — — — Other income — — — Miscellaneous income 800,460 — 800,460 Grant income 3,316,273 — 3,316,273 Other income — 433 433 Interest income — 104,368 104,368 Total revenue and other income 4,116,733 104,801 4,221,534 Segment Result (10,209,394 ) 104,801 (10,104,593 ) Profit/(loss) before income tax expense (10,209,394 ) 104,801 (10,104,593 ) Income tax benefit 737,387 Loss after income tax expense (9,367,206 ) Total segment assets 34,963,796 — 34,963,796 Total segment liabilities 8,431,490 — 8,431,490 June 30, 2016 Cancer Consolidated Revenue License revenue 175,052 — 175,052 Other income Miscellaneous income 702,743 — 702,743 Grant income 887,083 — 887,083 Interest income — 264,043 264,043 Total revenue and other income 1,764,878 264,043 2,028,921 Segment Result (63,460,244 ) 264,043 (63,196,201 ) Profit/(loss) before income tax expense (63,460,244 ) 264,043 (63,196,201 ) Income tax benefit 1,181,017 Loss after income tax expense (62,015,184 ) Total segment assets 42,554,067 — 42,554,067 Total segment liabilities 7,236,554 — 7,236,554 |
Expenses (Tables)
Expenses (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Expenses | Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Loss before income tax includes the following specific expenses: Research & Development and Intellectual Property Research and development 8,972,321 6,991,151 6,382,377 Intellectual property management 1,017,509 534,593 677,151 Total Research & Development and Intellectual Property 9,989,830 7,525,744 7,059,528 Corporate administrative expenses Auditor’s remuneration 258,570 234,250 441,741 Directors fee and employee expenses 1,703,671 1,103,512 1,643,294 Employee share-based payment expenses 2,263,843 862,227 1,976,417 US warrants transaction costs 493,487 — — Administrative expenses 2,522,490 2,146,963 2,921,177 Total corporate administrative expenses 7,242,061 4,346,952 6,982,629 Depreciation Plant and equipment 1,917 3,680 168,924 Computers 7,814 8,867 10,676 Furniture and fittings 893 1,394 2,775 Total depreciation 10,624 13,941 182,375 Amortization Patents — — 61,881 Intellectual Property Assets R&D 1,798,305 1,687,674 1,748,837 Total amortization 1,798,305 1,687,674 1,810,718 Total depreciation and amortization 1,808,929 1,701,615 1,993,093 (Gain)/loss on disposal of assets Plant and equipment — — (18,493 ) Finance expenses Interest expenses — — 8,199 Other finance expenses — Finance expense — — 8,199 Net change in fair value of convertible note liability 866,848 751,816 607,637 Net change in fair value of warrants 189,983 — — Loss on foreign exchange — — 563,890 Changes in fair value of comparability milestone — — 542,075 Share Based Payment to strategic investor — — 47,468,071 |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Income Tax Expense Benefit | Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Current tax Current tax on profits for the year 1,676 (43,193 ) 3,121 Total current tax expense 1,676 (43,193 ) 3,121 Deferred income tax Increase in deferred tax assets (note 12) (103,660 ) (419,460 ) (921,463 ) Decrease in deferred tax liabilities (note 12) 103,660 (274,734 ) (262,675 ) Total deferred tax (benefit)/expense — (694,194 ) (1,184,138 ) Income tax (benefit)/expense 1,676 (737,387 ) (1,181,017 ) |
Disclosure of Reconciliation of Income Tax Expense to Prima Facie Tax Payable | Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Numerical reconciliation of income tax expense to prima facie tax payable Loss before income tax expense (12,744,344 ) (10,104,593 ) (63,196,201 ) Tax at the Australian tax rate of 27.5% (2017 27.5% and 2016: 30%) (3,504,695 ) (2,778,763 ) (18,958,860 ) Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Non-deductible 807,896 234,385 14,858,019 Other non-deductible 2,962,323 628,111 598,016 Non-assessable (883,971 ) (911,975 ) (266,125 ) Capital listing fee (79,152 ) (64,120 ) (90,305 ) Difference in overseas tax rates* 828,289 811,346 1,184,138 130,690 (2,081,016) (2,675,117) Net adjustment to deferred tax assets and liabilities for tax losses and temporary differences not recognized (129,014 ) 1,343,629 1,494,100 Income tax (benefit)/expense** 1,676 (737,387 ) (1,181,017 ) * Difference in overseas tax rate is as a result of reduced corporate income tax rate of 15% applicable to the Immutep subsidiary in France. ** Income tax expense /(benefit) relates to tax payable in the United States and for the prior year movement in deferred tax assets and liabilities for the French subsidiary. |
Disclosure of Deferred Tax Assets Liability Adjustments | Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Deferred tax assets not recognized Deferred tax assets not recognized comprises temporary differences attributable to: Carried forward tax losses benefit 34,854,437 30,987,750 32,044,352 Temporary differences 27,366 57,955 438,284 Total deferred tax assets not recognized 34,881,803 31,045,705 32,482,636 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Cash and Cash Equivalents | Consolidated June 30, 2018 June 30, 2017 Cash on hand 422 130 Cash at bank 5,932,433 11,972,345 Cash on deposit 17,542,666 264,499 23,475,521 12,236,974 |
Current Receivables (Tables)
Current Receivables (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Current Receivables | Consolidated June 30, 2018 June 30, 2017 GST receivable 170,926 187,273 Grant and other receivables 3,261,068 2,006,743 3,431,994 2,194,016 |
Other Current Assets (Tables)
Other Current Assets (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Other Current Assets | Consolidated June 30, 2018 June 30, 2017 Prepayments* 1,646,579 604,687 Capital raising costs — 846,180 Security deposit 38,843 37,311 Accrued interest 50,242 90 1,735,664 1,488,268 * Prepayments are in relation to the deposits paid to organizations involved in the clinical trials. |
Non-Current Assets - Plant an_2
Non-Current Assets - Plant and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Non-Current Assets - Plant and Equipment | Plant and Computers Furniture Total At June 30, 2016 Cost or fair value 511,195 41,971 8,064 561,230 Accumulated depreciation (496,104 ) (28,212 ) (5,414 ) (529,730 ) Net book amount 15,091 13,759 2,650 31,500 Year ended June 30, 2017 Opening net book amount 15,091 13,759 2,650 31,500 Exchange differences (171 ) (229 ) (46 ) (446 ) Additions — 7,089 — 7,089 Disposals — — — — Depreciation charge (3,680 ) (8,867 ) (1,394 ) (13,941 ) Closing net book amount 11,240 11,752 1,210 24,202 At June 30, 2017 Cost or fair value 510,188 48,919 8,030 567,137 Accumulated depreciation (498,948 ) (37,167 ) (6,820 ) (542,935 ) Net book amount 11,240 11,752 1,210 24,202 Year ended June 30, 2018 Opening net book amount 11,240 11,752 1,210 24,202 Exchange differences 638 314 26 978 Additions 1,312 10,581 — 11,893 Disposals — — — — Depreciation charge (1,917 ) (7,814 ) (893 ) (10,624 ) Closing net book amount 11,273 14,833 343 26,449 At June 30, 2018 Cost or fair value 524,746 61,585 8,475 594,806 Accumulated depreciation (513,473 ) (46,752 ) (8,132 ) (568,357 ) Net book amount 11,273 14,833 343 26,449 |
Non-Current Assets - Intangib_2
Non-Current Assets - Intangibles (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of Non-Current Assets - Intangibles | Patents Intellectual Goodwill Total At June 30, 2016 Cost or fair value 1,915,671 23,451,000 109,962 25,476,633 Accumulated amortization (1,915,671 ) (2,709,263 ) — (4,624,934 ) Net book amount — 20,741,737 109,962 20,851,699 Year ended June 30, 2017 Opening net book amount — 20,741,737 109,962 20,851,699 Exchange difference — (143,689 ) (143,689 ) Amortization charge — (1,687,674 ) — (1,687,674 ) Closing net book amount — 18,910,374 109,962 19,020,336 At June 30, 2017 Cost or fair value 1,915,671 23,343,253 109,962 25,368,886 Accumulated amortization (1,915,671 ) (4,432,879 ) — (6,348,550 ) Net book amount — 18,910,374 109,962 19,020,336 Year ended June 30, 2018 Opening net book amount — 18,910,374 109,962 19,020,336 Exchange difference — 1,107,124 — 1,107,124 Amortization charge — (1,798,305 ) — (1,798,305 ) Closing net book amount — 18,219,193 109,962 18,329,155 At June 30, 2018 Cost or fair value 1,915,671 24,786,169 109,962 26,789,097 Accumulated amortization (1,915,671 ) (6,566,976 ) — (8,459,942 ) Net book amount — 18,219,193 109,962 18,329,155 |
Deferred Tax Balances (Tables)
Deferred Tax Balances (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Deferred tax assets | Deferred tax assets The balance comprises temporary differences attributable to: Consolidated June 30, 2018 June 30, 2017 Tax losses 2,732,866 2,836,526 Total deferred tax assets 2,732,866 2,836,526 Set-off set-off (2,732,866 ) (2,836,526 ) Net deferred tax liabilities — — |
Deferred tax liabilities | Deferred tax liabilities The balance comprises temporary differences attributable to: Consolidated June 30, 2018 June 30, 2017 Intangible assets 2,732,866 2,836,526 Total deferred tax liabilities 2,732,866 2,836,526 Set-off set-off (2,732,866 ) (2,836,526 ) Net deferred tax liabilities — — |
Movements in Deferred Tax Balances | Movements in deferred tax balances Tax Losses Intangible Assets Total Movement At June 30, 2017 2,836,526 (2,836,526 ) — (Charged)/credited – to profit or loss (103,660 ) 103,660 — At June 30, 2018 2,732,866 (2,732,866 ) — |
Current Liabilites - Trade an_2
Current Liabilites - Trade and Other Payables (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Current Liabilities - Trade And Other Payables | Consolidated June 30, 2018 June 30, 2017 Trade payables 1,615,381 1,138,753 Other payables and accruals 2,048,468 1,450,028 3,663,849 2,588,781 |
Non-Current Liabilities - US _2
Non-Current Liabilities - US Warrant Liability (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Schedule of US Warrant Non-Current Liabilities | Consolidated June 30, 2018 June 30, 2017 Warrants fair value at issue date 2,755,375 — Fair value movements 189,983 — Balance at 30 June 2018 2,945,358 — |
Summary of Fair Value of Warrants | The following assumptions were based on observable market conditions that existed at the issue date and at 30 June 2018: Assumption At issue date At 30 June 2018 Rationale Historic volatility 58.0% 55.4% Based on 12-month Exercise price US$2.50 US$2.50 As per subscription agreement Share price US$2.17 US$2.38 Closing share price on valuation date from external market source Risk-free interest rate 1.930% 2.730% Based on the US Government securities yields which match the term of the warrant Dividend yield 0.0% 0.0% Based on the Company’s nil dividend history Fair value per warrant US$1.0716 A$1.3962 US$1.1031 A$1.4900 Determined using Black-Scholes models with the inputs above Fair value A$2,755,375 A$2,945,358 Fair value of 1,973,451 warrants |
Current Liabilities - Employe_2
Current Liabilities - Employee Benefits (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Current Liabilities [member] | |
Disclosure of Detailed Information of Employee Benefits Current Liabilities | Consolidated June 30, 2018 June 30, 2017 Annual leave 189,514 43,227 |
Non-current Liabilities [member] | |
Disclosure of Detailed Information of Employee Benefits Current Liabilities | Consolidated June 30, 2018 June 30, 2017 Long service leave 32,303 20,498 |
Contributed Equity (Tables)
Contributed Equity (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Contributed Equity | Consolidated Note June 30, 2018 June 30, 2017 Fully paid ordinary shares 18(a) 203,570,765 185,690,589 Options over ordinary shares – listed 9,661,954 9,661,954 213,232,719 195,352,543 |
Summary of Ordinary Shares | (a) Ordinary Shares June 30, 2018 June 30, 2017 Note No. A$ No. A$ At the beginning of reporting period 2,079,742,938 185,690,589 2,061,630,944 184,868,978 Shares issued during year 18(b) 889,880,270 16,968,200 — — Exercise of options and warrants (Shares issued during the year) 18(b) 56,459,461 1,737,497 18,111,994 830,144 Transaction costs relating to share issues — (825,521 ) — (8,533 ) At reporting date 3,026,082,669 203,570,765 2,079,742,938 185,690,589 |
Summary of Shares Issued | (b) Shares issued 2018 Details Number Issue Price Total Shares issued under Securities Purchase Agreement 263,126,800 0.01 3,806,390 Performance rights exercised (transfer from share-based payment reserve) 56,459,461 0.03 1,737,497 Share placement 326,192,381 0.021 6,850,040 Shares issued under Securities Purchase Agreement 300,561,089 0.021 6,311,770 946,339,731 18,705,697 2017 Details Number Issue Price Total Performance rights exercised(transfer from share-based payment reserve) 18,111,991 0.05 830,143 Options exercised 3 0.20 1 18,111,994 830,144 |
Summary of Unlisted Options | Unlisted Options Expiration Date Exercise Price Number December 12, 2018 $ 0.05019 147,628,500 August 4, 2020 $ 0.0237 371,445,231 October 30, 2020 $ 0.057 793,103 March 7, 2021 $ 0.04 1,026,272 August 4, 2025 $ 0.025 8,475,995 November 5, 2023 USD 0.025 197,345,100 * Total 726,714,201 * 1 American Depository Shares (ADS) listed on NASDAQ equals 100 ordinary shares listed on ASX thus the number of warrants on issue has been grossed up and the exercise price adjusted accordingly in the above table to be comparable. |
Equity - Reserves and Retaine_2
Equity - Reserves and Retained Earnings (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Equity Reserves and Retained Earnings | Consolidated June 30, 2018 June 30, 2017 (a) Reserves Options issued reserve 19,116,205 19,116,205 Conversion feature of convertible note reserve 41,431,774 41,431,774 Foreign currency translation reserve 1,096,368 (232,751 ) Share-based payment reserve 3,229,693 2,703,347 64,874,040 63,018,575 Movement in options issued reserve were as follows: Opening balance 19,116,205 19,116,205 Ending balance 19,116,205 19,116,205 Movements in conversion feature of convertible note reserve: Opening balance 41,431,774 41,431,774 Ending balance 41,431,774 41,431,774 Movement in foreign currency translation reserve were as follows: Opening balance (232,751 ) 38,945 Currency translation differences arising during the year 1,329,119 (271,696 ) Ending balance 1,096,368 (232,751 ) Movement in share-based payment reserve were as follows: Opening balance 2,703,347 2,671,263 Employee options issued during the year 2,263,843 862,227 Exercise of vested performance rights (1,737,497 ) (830,143 ) Ending balance 3,229,693 2,703,347 (b) Accumulated losses Movement in accumulated losses were as follows: Opening balance (231,838,812 ) (222,471,606 ) Net loss for the year (12,746,020 ) (9,367,206 ) Balance (244,584,832 ) (231,838,812 ) |
Key Management Personnel Disc_2
Key Management Personnel Disclosures (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Directors and Key Management Personnel Compensation | Directors and key management personnel compensation Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Short-term employee benefits 1,521,119 1,256,272 1,300,140 Long-term employee benefits 11,429 6,879 5,817 Post-employment benefits 36,370 38,184 42,471 Share-based payments 1,740,238 637,637 1,824,643 3,309,156 1,938,972 3,173,071 |
Summaries of All STI and LTI Performance Rights Granted Under the EIP | Set out below are summaries of all STI and LTI performance rights granted under the EIP excluding the performance rights issued to non-executive 2018 Grant date Fair Balance at Granted Exercised Lapsed during Balance at Vested and September 19, 2014 0.044 2,757,353 — — — 2,757,353 — September 19, 2014 0.044 919,118 — — — 919,118 — November 14, 2014 0.038 9,191,177 — — — 9,191,177 — November 14, 2014 0.040 3,063,725 — — — 3,063,725 — August 5, 2015 0.047 14,000,001 — (14,000,001 ) — — — October 1, 2015 0.060 600,000 — — — 600,000 — October 1, 2015 0.061 200,000 — — — 200,000 — March 7, 2016 0.041 1,486,326 — (1,486,326 ) — — — February 10, 2017 0.035 1,634,375 — (1,634,375 ) — — — 2 August 2017 0.020 — 3,900,000 — — 3,900,000 — November 17, 2017 0.024 — 50,000,000 (16,666,667 ) — 33,333,333 — November 28, 2017 0.023 — 15,000,000 — — 15,000,000 15,000,000 November 29, 2017 0.023 — 60,000,000 (20,000,000 ) — 40,000,000 — Total 33,852,075 128,900,000 (53,787,369 ) — 108,964,706 15,000,000 2017 Grant date Fair Balance at Granted Exercised Lapsed during Balance at Vested and September 19, 2014 0.044 5,422,794 — — (2,665,441 ) 2,757,353 — September 19, 2014 0.044 1,807,598 — — (888,480 ) 919,118 — November 14, 2014 0.038 9,191,177 — — — 9,191,177 — November 14, 2014 0.040 3,063,725 — — — 3,063,725 — August 5, 2015 0.047 28,000,001 — (14,000,000 ) — 14,000,001 — October 1, 2015 0.060 600,000 — — — 600,000 — October 1, 2015 0.061 200,000 — — — 200,000 — December 29, 2015 0.050 1,538,462 — (1,538,462 ) — — — March 7, 2016 0.041 1,486,326 — — — 1,486,326 — February 10, 2017 0.035 — 1,634,375 — — 1,634,375 — Total 51,310,083 1,634,375 (15,538,462 ) (3,553,921 ) 33,852,075 — |
Summary of Number of Options Over Ordinary Shares in Parent Entity | The number of options over ordinary shares in the parent entity held during the financial year by each director and other members of key management personnel of the consolidated entity, including their personally related parties, is set out below: June 30, 2018 Balance at Granted Exercised Other Balance at Vested and Unvested Options over ordinary shares Dr. Russell Howard — — — — — — — Mr. Pete Meyers — — — — — — — Mr. Marc Voigt 1 643,629 — — (643,629 ) — — — Mr Grant Chamberlain — — — — — — — Ms Lucy Turnbull, AO — — — — — — — Mr Albert Wong — — — — — — — Ms. Deanne Miller 1 121,212 — — (121,212 ) — — — Dr Frédéric Triebel 2 24,000,600 — — — 24,000,600 24,000,600 — 24,765,441 — — (764,841 ) 24,000,600 24,000,600 — 1 The above options lapsed during the year ended 30 June 2018. 2 This amount represents warrants which were issued to Dr Frédéric Triebel upon the acquisition of Immutep. June 30, 2017 Balance at Granted Exercised Other Balance at Vested and Unvested Options over ordinary shares Ms. Lucy Turnbull, AO 1 4,439,894 — — (4,439,894 ) — — — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers — — — — — — — Mr. Marc Voigt 1 721,754 — — (78,125 ) 643,629 643,629 — Ms. Deanne Miller 121,212 — — — 121,212 121,212 — Dr Frédéric Triebel 24,000,600 — — — 24,000,600 24,000,600 — 29,283,460 — — (4,518,019 ) 24,765,441 24,765,441 — 1 The above options lapsed during the year ended 30 June 2017. June 30, 2016 Balance at Granted Exercised Other Balance at Vested and Unvested Options over ordinary shares Ms. Lucy Turnbull, AO 4,439,894 — — — 4,439,894 4,439,894 — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers — — — — — — — Mr. Marc Voigt 1 1,171,754 — — (450,000 ) 721,754 721,754 — Ms. Deanne Miller 121,212 — — — 121,212 121,212 — Dr Frédéric Triebel 24,000,600 — — — 24,000,600 24,000,600 — 29,733,460 — — (450,000 ) 29,283,460 29,283,460 — 1 The above options lapsed during the year ended 30 June 2016. |
Performance rights [member] | |
Summaries of All STI and LTI Performance Rights Granted Under the EIP | The number of performance rights over ordinary shares in the parent entity held during the financial year by each director and other members of key management personnel of the consolidated entity, including their personally related parties, is set out below: June 30, 2018 Balance at Granted Exercised Other Balance at Vested and Unvested Rights over ordinary shares — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers 10,881,194 — (2,672,093 ) — 8,209,101 — 8,209,101 Mr. Marc Voigt 18,921,569 50,000,000 (23,333,333 ) — 45,588,236 — 45,588,236 Mr Grant Chamberlain — 13,272,356 — — 13,272,356 — 13,272,356 Ms Lucy Turnbull, AO — — — — — — — Mr Albert Wong — — — — — — — Ms. Deanne Miller 7,676,471 25,000,000 (12,333,334 ) — 20,343,137 — 20,343,137 Dr. Frédéric Triebel 4,819,660 35,000,000 (16,486,326 ) — 23,333,334 — 23,333,334 42,298,894 123,272,356 (54,825,086 ) — 110,746,164 — 110,746,164 June 30, 2017 Balance at Granted Exercised Other Balance at Vested and Unvested Rights over ordinary shares Ms. Lucy Turnbull, AO — — — — — — — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers 3,431,373 10,023,350 (2,573,529 ) — 10,881,194 — 10,881,194 Mr. Marc Voigt 25,588,236 — (6,666,667 ) — 18,921,569 — 18,921,569 Ms. Deanne Miller 11,676,471 — (4,000,000 ) — 7,676,471 — 7,676,471 Dr. Frédéric Triebel 8,152,993 — (3,333,333 ) — 4,819,660 — 4,819,660 48,849,073 10,023,350 (16,573,529 ) — 42,298,894 — 42,298,894 June 30, 2016 Balance at Granted Exercised Other Balance at Vested and Unvested Rights over ordinary shares Ms. Lucy Turnbull, AO — — — — — — — Mr. Albert Wong — — — — — — — Dr. Russell Howard — — — — — — — Mr. Pete Meyers 6,004,902 — (2,573,529 ) — 3,431,373 — 3,431,373 Mr. Marc Voigt 16,323,529 20,000,000 (10,735,293 ) — 25,588,235 — 25,588,236 Ms. Deanne Miller 6,127,451 12,000,000 (6,450,980 ) — 11,676,471 — 11,676,471 Dr. Frédéric Triebel — 11,486,326 (3,333,333 ) — 8,152,993 — 8,152,993 28,455,882 43,486,326 (23,093,135 ) — 48,849,072 — 48,849,073 |
Ordinary Shares [member] | |
Summaries of All STI and LTI Performance Rights Granted Under the EIP | The numbers of shares in the company held during the financial year by each director of and other key management personnel of the group, including their personally related parties, are set out below. There were no shares granted during the reporting period as compensation. 2018 Balance at start Received during the Received during the Other changes Balance at end Ordinary shares Dr Russell Howard — — — — — Mr Pete Meyers 6,862,744 2,672,093 — — 9,534,837 Mr Marc Voigt 18,271,960 45 * 23,333,333 — — — — 41,605,293 45 Mr Grant Chamberlain — — — — — Ms Lucy Turnbull, AO** 20,359,576 — — (20,359,576 ) — Mr Albert Wong** 3,837,500 — — (3,837,500 ) — Ms Deanne Miller 8,243,572 12,333,334 — (808,488 ) 19,768,418 Dr Frédéric Triebel 15,978,049 16,486,326 — — 32,464,375 Total ordinary shares 73,553,401 54,825,086 — (25,005,564 ) 103,372,923 Total ADR 45 — — — 45 * American Depository Receipts (ADR) traded on the NASDAQ ** At the date of resignation, the shareholding balance for Ms Lucy Turnbull and Mr Albert Wong are 20,359,576 shares and 3,837,500 shares respectively. The changes during the year is not the actual disposal of the shares. It represents derecognition due to the fact that they ceased to be directors of the company. June 30, 2017 Balance at Received during the Received during Other changes Balance at end Ordinary shares Ms. Lucy Turnbull, AO 20,359,576 — — — 20,359,576 Mr. Albert Wong 3,837,500 — — — 3,837,500 Dr. Russell Howard — — — — — Mr. Pete Meyers 4,289,215 2,573,529 — — 6,862,744 Mr. Marc Voigt 11,605,293 150 * 6,666,667 — — — — (105 )* 18,271,960 45 * Ms. Deanne Miller 4,950,980 4,000,000 — (707,408 ) 8,243,572 Dr. Frédéric Triebel 12,644,716 3,333,333 — — 15,978,049 Total ordinary shares 57,687,280 16,573,529 — (707,408 ) 73,553,401 Total ADSs 150 — — (105 ) 45 * American Depositary Shares (ADSs) traded on the NASDAQ. The change is due to the change of ADS ration from 30:1 to 100:1 during the fiscal year 2017. June 30, 2016 Balance at Received during Received during Other changes Balance at end Ordinary shares Ms. Lucy Turnbull, AO 20,059,576 — — 300,000 20,359,576 Mr. Albert Wong 3,537,500 — — 300,000 3,837,500 Dr. Russell Howard — — — — — Mr. Pete Meyers 1,715,686 2,573,529 — — 4,289,215 Mr. Marc Voigt 870,000 150 * 10,735,293 — — — — — 11,605,293 150 * Ms. Deanne Miller 20,924 6,450,980 — (1,520,924 ) 4,950,980 Dr. Frédéric Triebel 9,311,383 3,333,333 — — 12,644,716 Total ordinary shares 35,515,069 23,093,135 — (920,924 ) 57,687,280 Total ADSs 150 — — — 150 * American Depositary Shares (ADSs) traded on the NASDAQ |
Remuneration of Auditors (Table
Remuneration of Auditors (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Detailed Information About Auditors Remuneration | During the year the following fees were paid or payable for services provided by the auditor of the parent entity, its related practices and non-related Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Audit fees PricewaterhouseCoopers Australia Audit or review of the financial report 258,570 234,250 232,000 Other audit and assurance services in relation to regulatory filings overseas — 200,000 209,741 Total remuneration of PricewaterhouseCoopers Australia 258,570 434,250 441,741 |
Commitments for Expenditure (Ta
Commitments for Expenditure (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Schedule of Operating Lease Commitment | Consolidated 30 June 2018 30 June 2017 Lease commitments—operating Committed at the reporting date but not recognised as liabilities, payable: Within one year 117,562 — One to five years 21,600 — 139,162 — |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Schedule of Transaction Occur with Related Parties | The following transaction occurred with related parties: Consolidated 30 June 2018 30 June 2017 In addition to Director’s fees, Consultancy fees for post directorship executive duties were paid to Barton Place Pty Ltd, a corporation in which Albert Wong has a beneficial interest 49,500 — |
Subsidiaries (Tables)
Subsidiaries (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Subsidiaries | The consolidated financial statements incorporate the assets, liabilities and results of the following subsidiaries in accordance with the accounting policy described in note 1: Equity holding Name of entity Country of June 30, 2018 June 30, 2017 Immutep U.S., Inc United States 100.00 100.00 PRR Middle East FZ LLC United Arab Emirates 100.00 100.00 Immutep GmbH Germany 100.00 100.00 Immutep Australia Pty Ltd Australia 100.00 100.00 Immutep IP Pty Ltd Australia 100.00 100.00 Immutep S.A.S. France 100.00 100.00 |
Reconciliation of Loss After _2
Reconciliation of Loss After Income Tax to Net Cash Used in Operating Activities (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Reconciliation of Loss After Income Tax to Net Cash Used in Operating Activities | Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Loss after income tax expense for the year (12,746,020 ) (9,367,206 ) (62,015,184 ) Adjustments for: Depreciation and amortization 1,808,929 1,701,615 1,993,093 Add back share based payments 2,263,843 862,227 2,058,659 Changes in fair value of US investor warrant 189,983 — — US warrants transaction costs 493,487 — — Non-cash — — 47,468,071 Changes in fair value of comparability milestone — — 542,075 Add back (gain) on disposal of assets — — (18,493 ) Add back Non-cash — — — Unrealized (gain)/loss on exchange through the profit and loss (401,557 ) (218,567 ) 844,864 Net change in fair value of convertible note liability 866,848 751,816 607,637 Change in operating assets and liabilities: (Increase) in current receivables (1,237,978 ) (2,025,716 ) (394,922 ) Decrease/(increase) in other operating assets (247,396 ) (865,245 ) 324,983 (Decrease)/increase in trade and other payables 1,075,067 1,377,141 (1,491,882 ) Increase/(decrease) in employee benefits 158,091 (7,120 ) (45,165 ) (Decrease)/increase in income tax payable — (21,549 ) 712 (Decrease) in deferred tax liability — (694,194 ) (1,184,139 ) Net cash used in operating activities (7,776,703 ) (8,506,798 ) (11,309,691 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of Earnings Per Share | Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Loss after income tax attributable to the owners of Immutep Limited (12,746,020 ) (9,367,206 ) (62,015,184 ) Number Number (Restated)* Number Weighted average number of ordinary shares used in calculating basic earnings per share 2,608,328,140 2,284,360,994 2,228,477,348 Weighted average number of ordinary shares used in calculating diluted earnings per share 2,608,328,140 2,284,360,994 2,228,477,348 Cents Cents Cents Basic earnings per share (0.49 ) (0.41 ) (2.78 ) Diluted earnings per share (0.49 ) (0.41 ) (2.78 ) * The Group updated the 2017 and 2016 EPS figure to reflect the bonus shares issue arising from the capital raising in fiscal year 2018. |
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table summarizes the convertible notes, performance rights, listed options and unlisted options that were not included in the calculation of weighted average number of ordinary shares because they are anti-dilutive for the periods presented. Consolidated June 30, 2018 June 30, 2017 June 30, 2016 Listed options — — 77,378,693 Unlisted options 529,369,101 531,049,969 531,049,969 Convertible notes 797,171,907 727,075,050 706,476,966 Performance rights 108,964,706 33,852,075 51,310,083 Non-executive 21,481,457 10,881,194 3,431,373 US warrants* 197,345,100 — — * 1 American Depository Shares (ADS) listed on NASDAQ equals 100 ordinary shares listed on ASX thus the number of warrants on issue has been grossed up. |
Share - Based Payment (Tables)
Share - Based Payment (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Summary of STI Performance Rights Granted | The model inputs for STI performance rights granted during the year ended June 30, 2018 included: Grant date August 2, 2017 November 17, 2017 November 28, 2017 November 29, 2017 Share price at grant date $ 0.020 $ 0.024 $ 0.023 $ 0.023 Expected price volatility of the Company’s shares 49% 73% 74% 74% Expected dividend yield Nil Nil Nil Nil Risk-free interest rate 1.75% 1.79% 1.88% 1.73% The model inputs for STI performance rights granted during the year ended June 30, 2017 included: Grant date February 10, Share price at grant date $ 0.035 Expected price volatility of the Company’s shares 54% Expected dividend yield Nil Risk-free interest rate 1.80% The model inputs for STI performance rights granted during the year ended June 30, 2016 included: Grant date August 5, December 29, March 7, Share price at grant date $ 0.047 $ 0.050 $ 0.041 Expected price volatility of the Company’s shares 167% 169% 169% Expected dividend yield Nil Nil Nil Risk-free interest rate 2.03% 1.97% 2.14% The model inputs for STI performance rights granted during the year ended 30 June 2018 included: Grant date 17 November 2017 Share price at grant date $0.024 Expected price volatility of the Company’s shares 73% Expected dividend yield Nil Risk-free interest rate 1.79% The model inputs for STI performance rights granted during the year ended June 30, 2017 included: Grant date 25 November 2016 Share price at grant date $ 0.037 Expected price volatility of the Company’s shares 56% Expected dividend yield Nil Risk-free interest rate 1.92% |
Schedule of Performance Rights Granted | The model inputs for these performance rights granted included: Grant date August 5, 2015 Measurement period August 5, 2015 to August 5, 2017 Share price at grant date $ 0.047 Expected price volatility of the Company’s shares 162% Expected dividend yield Nil Risk-free interest rate 1.95% |
Summary of Model Inputs for Perdirnance Rights Granted | The model inputs for performance rights granted during the year ended June 30, 2016 included: Grant date August 5, 2015 October 1, 2015 Measurement period – tranche 1 August 5, 2015 to October 1, 2015 to Measurement period – tranche 2 August 5, 2015 to October 1, 2015 to Barrier price CAGR 20% per annum over CAGR 20% per Share price at grant date $ 0.047 $ 0.058 Expected price volatility of the Company’s shares 120% 120% Expected dividend yield Nil Nil Risk-free interest rate 2.12% 1.94% |
Summary of Total Expenses Arising From Share-based Payment Transactions | Total expenses arising from share-based payment transactions recognized during the period as part of employee benefit expense were as follows: Consolidated June 30, 2018 June 30, 2017 Employee share-based payment expense 2,263,843 862,227 2,263,843 862,227 |
Equity incentive plan [member] | |
Summaries of Options Granted Under EIP | Set out below are summaries of options granted under the EIP: 2018 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited during Balance at Vested and December 23, 2013 June, 30, 2018 0.0774 1,515,752 — — (1,515,752) — — January 24, 2014 June, 30, 2018 0.0774 165,116 — — (165,116) — — Total 1,680,868 — — (1,680,868) — — Weighted average 0.0774 — 2017 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited during Balance at Vested and December 23, 2013 June, 30, 2018 0.0774 1,515,752 — — — 1,515,752 1,515,752 January 24, 2014 June, 30, 2018 0.0774 165,116 — — — 165,116 165,116 Total 1,680,868 — — — 1,680,868 1,680,868 Weighted average exercise price 0.0774 0.0774 2016 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited during Balance at Vested and December 23, 2013 June, 30, 2018 0.0774 1,515,752 — — — 1,515,752 1,515,752 January 24, 2014 June, 30, 2018 0.0774 165,116 — — — 165,116 165,116 Total 1,680,868 — — — 1,680,868 1,680,868 Weighted average exercise price 0.0774 0.0774 |
Non Executive Directors [member] | Stock Option 1 [member] | |
Summaries of Options Granted Under EIP | Set out below are summaries of performance rights granted with shareholders’ approval. 2018 Grant date Type of Fair Balance at Granted Exercised Lapsed during Balance at Vested and November 14, 2014 Director rights 0.037 857,844 — (857,844 ) — — — November 25, 2016 Director rights 0.038 10,023,350 — (1,814,249 ) — 8,209,101 — November 17, 2017 Director rights 0.024 — 13,272,356 — — 13,272,356 — Total 10,881,194 13,272,356 (2,672,093 ) — 21,481,457 — 2017 Grant date Type of Fair Balance at Granted Exercised Lapsed during Balance at Vested and November 14, 2014 Director rights 0.037 3,431,373 — (2,573,529 ) — 857,844 — November 25, 2016 Director rights 0.038 — 10,023,350 — — 10,023,350 — Total 3,431,373 10,023,350 (2,573,529 ) — 10,881,194 — 2016 Grant date Type of Fair Balance at Granted Exercised Lapsed during Balance at Vested and November 14, 2014 Director rights 0.037 6,004,902 — (2,573,529 ) — 3,431,373 — Total 6,004,902 — (2,573,529 ) — 3,431,373 — |
Ridgeback Capital Investments and Trout Group LLC. [member] | Stock Option 1 [member] | |
Summaries of Options Granted Under EIP | Set out below is a summary of the options granted to both parties: 2018 Grant date Expiry date Exercise Balance at Granted Exercised Forfeited Balance at Vested and Number Number Number Number Number Number July 31, 2015 August 5,2020 0.0237 371,445,231 — — — 371,445,231 371,445,231 July 31, 2015 August 5, 2021 0.025 8,475,995 — — — 8,475,995 8,475,995 October 30, 2015 October 30, 2020 0.057 793,103 — — — 793,103 793,103 March 7, 2016 March 7, 2021 0.040 1,026,272 — — — 1,026,272 1,026,272 Total 381,740,601 — — — 381,740,601 381,740,601 |
Parent Entity Information (Tabl
Parent Entity Information (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Statement of Comprehensive Loss of Parent Entity | Statement of comprehensive loss Parent June 30, 2018 June 30, 2017 June 30, 2016 Loss after income tax (14,687,752 ) (8,526,159 ) (61,973,221 ) Total comprehensive loss (14,687,752 ) (8,526,159 ) (61,973,221 ) |
Statement of Financial Position of Parent Entity | Statement of financial position Parent June 30, 2018 June 30, 2017 Total current assets 23,589,353 13,220,743 Total non current assets 18,698,068 20,936,849 Total assets 42,287,421 34,157,592 Total current liabilities 615,027 1,189,848 Total non current liabilities 10,630,814 6,482,571 Total liabilities 11,245,841 7,672,419 Equity — Contributed equity 213,232,719 195,352,543 — Reserves 64,615,312 63,251,328 — Accumulated losses (246,806,451 ) (232,118,699 ) Total equity 31,041,580 26,485,173 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of Depreciation on Other Assets Estimated Useful Lives (Detail) | 12 Months Ended |
Jun. 30, 2018 | |
Computers [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 3 years |
Bottom of Range [member] | Plant and Equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 3 years |
Bottom of Range [member] | Furniture [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 3 years |
Top of Range [member] | Plant and Equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 5 years |
Top of Range [member] | Furniture [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of assets | 5 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Additional Information (Detail) | Jun. 30, 2018yr |
Intellectual Property 1 [Member] | Weighted average [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Average intellectual property period | 14 |
Financial Risk Management - Sum
Financial Risk Management - Summary of Exposure to Foreign Currency Risk (Detail) | Jun. 30, 2018AUD ($) | Jun. 30, 2018EUR (€) | Jun. 30, 2018USD ($) | Jun. 30, 2017AUD ($) | Jun. 30, 2017EUR (€) | Jun. 30, 2017USD ($) |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [Line Items] | ||||||
Cash in bank | $ | $ 5,932,433 | $ 11,972,345 | ||||
Currency Risk [member] | ||||||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [Line Items] | ||||||
Cash in bank | € 2,163,426 | $ 7,788,802 | € 7,449,288 | $ 712,680 | ||
Trade and other receivables | € | 2,541,056 | 5,024 | ||||
Trade and other payables | € (315,485) | $ (1,226,364) | € (858,305) | $ (135,820) |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Detail) - AUD ($) | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Deposits at call | $ 23,475,521 | $ 12,236,974 | $ 20,879,548 | $ 6,759,615 |
Financial instruments | 0 | |||
Liquidity Risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Deposits at call | 23,475,521 | 12,236,974 | ||
Ten Percentage Adjustment [Member] | Currency Risk [member] | Financial Assets And Liabilities [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Effect of 10% exchange rate movements on post-tax loss | $ 656,244 | 57,686 | ||
Description of risk | Based on the financial assets and liabilities held at June 30, 2018, had the Australian dollar weakened/ strengthened by 10% against the US dollar with all other variables held constant, the group's post-tax loss for the year would have been $656,244 lower/$656,244 higher (2017 - $57,686 lower/$57,686 higher). | |||
Ten Percentage Adjustment [Member] | Currency Risk [member] | Financial Instruments [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Effect of 10% exchange rate movements on post-tax loss | $ 438,900 | $ 659,601 | ||
Description of risk | Based on the financial instruments held at June 30, 2018, had the Australian dollar weakened/ strengthened by 10% against the Euro with all other variables held constant, the group’s post-tax loss for the year would have been $438,900 lower/$438,900 higher lower (2017 – $659,601 lower/$659,601 higher), mainly as a result of foreign exchange gains/losses on translation of Euro denominated financial instruments. |
Financial Risk Management - S_2
Financial Risk Management - Summary of Credit Quality of Financial Assets (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Disclosure Of Reasonably Possible Changes To Actuarial Assumptions [Line Items] | ||||
Cash at bank and short-term bank deposits Minimum rating of A | $ 23,475,521 | $ 12,236,974 | $ 20,879,548 | $ 6,759,615 |
External Credit A Grades [Member] | ||||
Disclosure Of Reasonably Possible Changes To Actuarial Assumptions [Line Items] | ||||
Cash at bank and short-term bank deposits Minimum rating of A | $ 23,475,521 | $ 12,236,974 |
Financial Risk Management - S_3
Financial Risk Management - Summary of Contractual Undiscounted Cash Flows (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | $ 3,663,849 | $ 2,588,781 |
Convertible note liability (refer note 15) | 17,876,076 | 17,876,076 |
Non-Derivatives | 21,539,925 | 20,464,857 |
Less Than 6 Months [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 3,663,849 | 2,588,781 |
Non-Derivatives | 3,663,849 | 2,588,781 |
More Than 5 Years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Convertible note liability (refer note 15) | 17,876,076 | 17,876,076 |
Non-Derivatives | 17,876,076 | 17,876,076 |
Carrying Amount (Assets/Liabilities) [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables | 3,663,849 | 2,588,781 |
Convertible note liability (refer note 15) | 6,645,832 | 5,778,984 |
Non-Derivatives | $ 10,309,681 | $ 8,367,765 |
Financial Risk Management - S_4
Financial Risk Management - Summary of Financial Assets and Financial Liabilities Measured and Recognized at Fair Value (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Liabilities | ||
Warrant liability | $ 2,945,358 | |
Recurring Fair Value Measurement [member] | ||
Liabilities | ||
Convertible note liability | 6,645,832 | $ 5,778,984 |
Warrant liability | 2,945,358 | |
Total liabilities | 9,591,190 | 5,778,984 |
Level 2 [member] | Recurring Fair Value Measurement [member] | ||
Liabilities | ||
Warrant liability | 2,945,358 | |
Total liabilities | 2,945,358 | |
Level 3 [member] | Recurring Fair Value Measurement [member] | ||
Liabilities | ||
Convertible note liability | 6,645,832 | 5,778,984 |
Total liabilities | $ 6,645,832 | $ 5,778,984 |
Financial Risk Management - S_5
Financial Risk Management - Summary of Valuation Inputs and Relationships to Fair Value (Detail) | 12 Months Ended |
Jun. 30, 2018AUD ($) | |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items] | |
Face value | $ 1 |
Convertible Notes [member] | Level 3 [member] | |
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items] | |
Convertible note | 6,645,832 |
Face value | $ 13,750,828 |
Interest rate of note | 3.00% |
Risk adjusted interest rate | 15.00% |
Critical Accounting Judgement_2
Critical Accounting Judgements, Estimates And Assumptions - Additional Information (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Disclosure of changes in accounting estimates [line items] | ||||
Cash and cash equivalents | $ 23,475,521 | $ 12,236,974 | $ 20,879,548 | $ 6,759,615 |
Segment Reporting - Disclosure
Segment Reporting - Disclosure of Operating Segment Information (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenue | |||
License revenue | $ 2,630,484 | $ 175,052 | |
Other income | |||
Miscellaneous income | 1,008,678 | $ 800,460 | 702,743 |
Grant income | 3,214,441 | 3,316,273 | 887,083 |
Other income | 322,518 | 433 | |
Interest income | 177,186 | 104,368 | 264,043 |
Total revenue and other income | 7,353,307 | 4,221,534 | 2,028,921 |
Segment Result | (12,744,344) | (10,104,593) | (63,196,201) |
Profit/(loss) before income tax expense | (12,744,344) | (10,104,593) | (63,196,201) |
Income tax benefit | (1,676) | 737,387 | 1,181,017 |
Loss after income tax expense | (12,746,020) | (9,367,206) | (62,015,184) |
Total segment assets | 46,998,783 | 34,963,796 | 42,554,067 |
Total segment liabilities | 13,476,856 | 8,431,490 | 7,236,554 |
Cancer Immunotherapy [member] | |||
Revenue | |||
License revenue | 2,630,484 | 175,052 | |
Other income | |||
Miscellaneous income | 1,008,678 | 800,460 | 702,743 |
Grant income | 3,214,441 | 3,316,273 | 887,083 |
Total revenue and other income | 6,853,603 | 4,116,733 | 1,764,878 |
Segment Result | (13,054,065) | (10,209,394) | (63,460,244) |
Profit/(loss) before income tax expense | (13,054,065) | (10,209,394) | (63,460,244) |
Total segment assets | 46,998,783 | 34,963,796 | 42,554,067 |
Total segment liabilities | 13,476,856 | 8,431,490 | 7,236,554 |
Unallocated [member] | |||
Other income | |||
Other income | 322,518 | 433 | |
Interest income | 177,186 | 104,368 | 264,043 |
Total revenue and other income | 499,704 | 104,801 | 264,043 |
Segment Result | 309,721 | 104,801 | 264,043 |
Profit/(loss) before income tax expense | $ 309,721 | $ 104,801 | $ 264,043 |
Expenses - Disclosure of Expens
Expenses - Disclosure of Expenses (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Research & Development and Intellectual Property | |||
Total Research & Development and Intellectual Property | $ 9,989,830 | $ 7,525,744 | $ 7,059,528 |
Corporate administrative expenses | |||
Auditor's remuneration | 258,570 | 234,250 | 441,741 |
Directors fee and employee expenses | 1,703,671 | 1,103,512 | 1,643,294 |
Employee share-based payment expenses | 2,263,843 | 862,227 | 1,976,417 |
US warrants transaction costs | 493,487 | ||
Administrative expenses | 2,522,490 | 2,146,963 | 2,921,177 |
Total corporate administrative expenses | 7,242,061 | 4,346,952 | 6,982,629 |
Depreciation | |||
Total depreciation | 10,624 | 13,941 | 182,375 |
Amortization | |||
Total amortization | 1,798,305 | 1,687,674 | 1,810,718 |
Total depreciation and amortization | 1,808,929 | 1,701,615 | 1,993,093 |
(Gain)/loss on disposal of assets | |||
Plant and equipment | (18,493) | ||
Finance expenses | |||
Interest expenses | 8,199 | ||
Finance expense | 8,199 | ||
Net change in fair value of convertible note liability | 866,848 | 751,816 | 607,637 |
Net change in fair value of warrants | 189,983 | ||
Loss on foreign exchange | 563,890 | ||
Changes in fair value of comparability milestone | 542,075 | ||
Share Based Payment to strategic investor | 47,468,071 | ||
Plant and Equipment [member] | |||
Depreciation | |||
Total depreciation | 1,917 | 3,680 | 168,924 |
Computers [member] | |||
Depreciation | |||
Total depreciation | 7,814 | 8,867 | 10,676 |
Furniture and Fittings [member] | |||
Depreciation | |||
Total depreciation | 893 | 1,394 | 2,775 |
Research and Development [member] | |||
Research & Development and Intellectual Property | |||
Total Research & Development and Intellectual Property | 8,972,321 | 6,991,151 | 6,382,377 |
Intellectual Property Management [member] | |||
Research & Development and Intellectual Property | |||
Total Research & Development and Intellectual Property | 1,017,509 | 534,593 | 677,151 |
Patents [member] | |||
Amortization | |||
Total amortization | 61,881 | ||
Intellectual Property Assets R&D [member] | |||
Amortization | |||
Total amortization | $ 1,798,305 | $ 1,687,674 | $ 1,748,837 |
Income Tax Expense - Disclosure
Income Tax Expense - Disclosure of Income Tax Expense Benefit (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Current tax | |||
Current tax on profits for the year | $ 1,676 | $ (43,193) | $ 3,121 |
Total current tax expense | 1,676 | (43,193) | 3,121 |
Deferred income tax | |||
Increase in deferred tax assets (note 12) | (103,660) | (419,460) | (921,463) |
Decrease in deferred tax liabilities (note 12) | 103,660 | (274,734) | (262,675) |
Total deferred tax (benefit)/expense | (694,194) | (1,184,138) | |
Income tax (benefit)/expense | $ 1,676 | $ (737,387) | $ (1,181,017) |
Income Tax Expense - Disclosu_2
Income Tax Expense - Disclosure of Reconciliation of Income Tax Expense to Prima Facie Tax Payable (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Loss before income tax expense | $ (12,744,344) | $ (10,104,593) | $ (63,196,201) |
Tax at the Australian tax rate of 27.5% (2017 27.5% and 2016: 30%) | (3,504,695) | (2,778,763) | (18,958,860) |
Tax effect amounts which are not deductible/(taxable) in calculating taxable income: | |||
Non-deductible share based payments | 807,896 | 234,385 | 14,858,019 |
Other non-deductible expenses | 2,962,323 | 628,111 | 598,016 |
Non-assessable income | (883,971) | (911,975) | (266,125) |
Capital listing fee | (79,152) | (64,120) | (90,305) |
Difference in overseas tax rates | 828,289 | 811,346 | 1,184,138 |
Income tax expense before adjustment | 130,690 | (2,081,016) | (2,675,117) |
Net adjustment to deferred tax assets and liabilities for tax losses and temporary differences not recognized | (129,014) | 1,343,629 | 1,494,100 |
Income tax (benefit)/expense | $ 1,676 | $ (737,387) | $ (1,181,017) |
Income Tax Expense - Disclosu_3
Income Tax Expense - Disclosure of Reconciliation of Income Tax Expense to Prima Facie Tax Payable (Parenthetical) (Detail) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Immutep S.A.S. [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Corporate income tax rate | 15.00% | 15.00% | 15.00% |
Australia [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Corporate income tax rate | 27.50% | 27.50% | 30.00% |
Income Tax Expense - Disclosu_4
Income Tax Expense - Disclosure of Deferred Tax Assets Liability Adjustments (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Deferred tax assets not recognized comprises temporary differences attributable to: | |||
Carried forward tax losses benefit | $ 34,854,437 | $ 30,987,750 | $ 32,044,352 |
Temporary differences | 27,366 | 57,955 | 438,284 |
Total deferred tax assets not recognized | $ 34,881,803 | $ 31,045,705 | $ 32,482,636 |
Income Tax Expense - Additional
Income Tax Expense - Additional Information (Detail) - AUD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Deferred Tax Assets And Liabilities [line Items] | ||
Cumulative tax losses | $ 126,743,409 | $ 112,682,727 |
Cash and Cash Equivalents - Dis
Cash and Cash Equivalents - Disclosure of Cash and Cash Equivalents (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Disclosure of cash and cash equivalents [line items] | ||||
Cash on hand | $ 422 | $ 130 | ||
Cash at bank | 5,932,433 | 11,972,345 | ||
Cash on deposit | 17,542,666 | 264,499 | ||
Cash and cash equivalents | $ 23,475,521 | $ 12,236,974 | $ 20,879,548 | $ 6,759,615 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Detail) | Jun. 30, 2018 | Jun. 30, 2017 |
Bottom of Range [member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Interest rate | 0.00% | 0.00% |
Top of Range [member] | ||
Disclosure of cash and cash equivalents [line items] | ||
Interest rate | 2.73% | 2.05% |
Current Receivables - Disclosur
Current Receivables - Disclosure of Current Receivables (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of trade and other receivables [line items] | ||
GST receivable | $ 170,926 | $ 187,273 |
Grant and other receivables | 3,261,068 | 2,006,743 |
Current receivables | $ 3,431,994 | $ 2,194,016 |
Other Current Assets - Disclosu
Other Current Assets - Disclosure of Other Current Assets (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Prepaid expenses and other current assets [line Items] | ||
Prepayments | $ 1,646,579 | $ 604,687 |
Capital raising costs | 846,180 | |
Security deposit | 38,843 | 37,311 |
Accrued interest | 50,242 | 90 |
Other current assets | $ 1,735,664 | $ 1,488,268 |
Non-Current Assets - Plant an_3
Non-Current Assets - Plant and Equipment - Disclosure of Non-Current Assets - Plant and Equipment (Detail) - AUD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | $ 24,202 | $ 31,500 |
Exchange differences | 978 | (446) |
Additions | 11,893 | 7,089 |
Disposals | 0 | 0 |
Depreciation charge | (10,624) | (13,941) |
Closing net book amount | 26,449 | 24,202 |
Plant and Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | 11,240 | 15,091 |
Exchange differences | 638 | (171) |
Additions | 1,312 | |
Disposals | 0 | 0 |
Depreciation charge | (1,917) | (3,680) |
Closing net book amount | 11,273 | 11,240 |
Computers [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | 11,752 | 13,759 |
Exchange differences | 314 | (229) |
Additions | 10,581 | 7,089 |
Disposals | 0 | 0 |
Depreciation charge | (7,814) | (8,867) |
Closing net book amount | 14,833 | 11,752 |
Furniture and Fittings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | 1,210 | 2,650 |
Exchange differences | 26 | (46) |
Disposals | 0 | 0 |
Depreciation charge | (893) | (1,394) |
Closing net book amount | 343 | 1,210 |
Cost or Fair Value [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | 567,137 | 561,230 |
Closing net book amount | 594,806 | 567,137 |
Cost or Fair Value [member] | Plant and Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | 510,188 | 511,195 |
Closing net book amount | 524,746 | 510,188 |
Cost or Fair Value [member] | Computers [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | 48,919 | 41,971 |
Closing net book amount | 61,585 | 48,919 |
Cost or Fair Value [member] | Furniture and Fittings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | 8,030 | 8,064 |
Closing net book amount | 8,475 | 8,030 |
Accumulated Amortization and Impairment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | (542,935) | (529,730) |
Closing net book amount | (568,357) | (542,935) |
Accumulated Amortization and Impairment [member] | Plant and Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | (498,948) | (496,104) |
Closing net book amount | (513,473) | (498,948) |
Accumulated Amortization and Impairment [member] | Computers [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | (37,167) | (28,212) |
Closing net book amount | (46,752) | (37,167) |
Accumulated Amortization and Impairment [member] | Furniture and Fittings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening net book amount | (6,820) | (5,414) |
Closing net book amount | $ (8,132) | $ (6,820) |
Non-Current Assets - Intangib_3
Non-Current Assets - Intangibles - Disclosure of Non-Current Assets - Intangibles (Detail) - AUD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | $ 19,020,336 | $ 20,851,699 |
Exchange difference | 1,107,124 | (143,689) |
Amortization charge | (1,798,305) | (1,687,674) |
Closing net book amount | 18,329,155 | 19,020,336 |
Cost or Fair Value [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | 25,368,886 | 25,476,633 |
Closing net book amount | 26,789,097 | 25,368,886 |
Accumulated Depreciation Amortization [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | (6,348,550) | (4,624,934) |
Closing net book amount | (8,459,942) | (6,348,550) |
Patents 1 [member] | Cost or Fair Value [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | 1,915,671 | 1,915,671 |
Closing net book amount | 1,915,671 | 1,915,671 |
Patents 1 [member] | Accumulated Depreciation Amortization [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | (1,915,671) | (1,915,671) |
Closing net book amount | (1,915,671) | (1,915,671) |
Intellectual Property Assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | 18,910,374 | 20,741,737 |
Exchange difference | 1,107,124 | (143,689) |
Amortization charge | (1,798,305) | (1,687,674) |
Closing net book amount | 18,219,193 | 18,910,374 |
Intellectual Property Assets [member] | Cost or Fair Value [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | 23,343,253 | 23,451,000 |
Closing net book amount | 24,786,169 | 23,343,253 |
Intellectual Property Assets [member] | Accumulated Depreciation Amortization [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | (4,432,879) | (2,709,263) |
Closing net book amount | (6,566,976) | (4,432,879) |
Goodwill [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | 109,962 | 109,962 |
Closing net book amount | 109,962 | 109,962 |
Goodwill [member] | Cost or Fair Value [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Opening net book amount | 109,962 | 109,962 |
Closing net book amount | $ 109,962 | $ 109,962 |
Non-current Assets - Intangib_4
Non-current Assets - Intangibles - Additional Information (Detail) | 12 Months Ended |
Jun. 30, 2018 | |
Patents, Trademark and License [member] | Bottom of Range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets useful life | 13 years |
Patents, Trademark and License [member] | Top of Range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets useful life | 21 years |
Intellectual Property Assets [member] | Bottom of Range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets useful life | 13 years |
Intellectual Property Assets [member] | Top of Range [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Intangible assets useful life | 14 Years |
Deferred Tax Balances - Deferre
Deferred Tax Balances - Deferred Tax Assets (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | $ 2,732,866 | $ 2,836,526 |
Set-off of deferred tax liabilities pursuant to set-off provisions | (2,732,866) | (2,836,526) |
Net deferred tax liabilities | 0 | 0 |
Tax Losses [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | 2,732,866 | 2,836,526 |
Net deferred tax liabilities | $ (2,732,866) | $ (2,836,526) |
Deferred Tax Balances - Defer_2
Deferred Tax Balances - Deferred Tax Liabilities (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Intangible assets | $ 2,732,866 | $ 2,836,526 |
Total deferred tax liabilities | 2,732,866 | 2,836,526 |
Set-off of deferred tax liabilities pursuant to set-off provisions | (2,732,866) | (2,836,526) |
Net deferred tax liabilities | $ 0 | $ 0 |
Deferred Tax Balances - Movemen
Deferred Tax Balances - Movements in Deferred Tax Balances (Detail) | 12 Months Ended |
Jun. 30, 2018AUD ($) | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred tax movement beginning balance | $ 0 |
(Charged)/credited | 0 |
Deferred tax movement ending balance | 0 |
Tax Losses [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred tax movement beginning balance | 2,836,526 |
(Charged)/credited | 0 |
- to profit or loss | (103,660) |
Deferred tax movement ending balance | 2,732,866 |
Intangible Assets [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred tax movement beginning balance | (2,836,526) |
(Charged)/credited | 0 |
- to profit or loss | 103,660 |
Deferred tax movement ending balance | $ (2,732,866) |
Current Liabilites - Trade an_3
Current Liabilites - Trade and Other Payables (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of trade and other payables [line Items] | ||
Trade payables | $ 1,615,381 | $ 1,138,753 |
Other payables and accruals | 2,048,468 | 1,450,028 |
Total trade and Other current payables | $ 3,663,849 | $ 2,588,781 |
Non-Current Liabilities - US _3
Non-Current Liabilities - US Warrant Liability - Schedule of US Warrant Non-Current Liabilities (Detail) - AUD ($) | 11 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of detailed information about borrowings [line items] | ||||
Fair value movements | $ 866,848 | $ 751,816 | $ 607,637 | |
Warrants1[member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Warrants fair value, Beginning balance | $ 2,755,375 | |||
Fair value movements | 189,983 | |||
Warrants fair value, Ending balance | $ 2,945,358 | $ 2,945,358 |
Non Current Liabilities - US Wa
Non Current Liabilities - US Warrant Liability - Additional Information (Detail) | May 11, 2015AUD ($) | Jul. 31, 2017AUD ($)shares | Jul. 31, 2017$ / sharesshares | Jun. 30, 2016AUD ($) | [1] |
Disclosure of detailed information about borrowings [line items] | |||||
Proceeds from issuance of American Depositary Shares and warrants | $ | $ 13,750,828 | $ 6,561,765 | $ 13,750,828 | ||
American Depository Shares [member] | Concurrent Private Placement [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Number of shares issued | shares | 1,973,451 | 1,973,451 | |||
Exercise price of warrants | $ / shares | $ 2.50 | ||||
Warrants, expiration period | Jan. 5, 2023 | ||||
[1] | Non-cash investing and financing activities relate mainly to the following: • Fair value movement of convertible notes disclosed in Note 15 to the financial statements • Fair value movement of warrant liability disclosed in Note 14 to the financial statements • Exercise of vested performance rights for no cash consideration disclosed in Note 19 to the financial statements |
Non Current Liabilities - US _2
Non Current Liabilities - US Warrant Liability - Summary of Fair Value of Warrants (Detail) - US Warrants [member] | 1 Months Ended | 12 Months Ended | ||
Jul. 31, 2017USD ($)$ / shares | Jul. 31, 2017AUD ($)$ / shares | Jun. 30, 2018USD ($)$ / shares | Jun. 30, 2018AUD ($)$ / shares | |
Disclosure of detailed information about borrowings [line items] | ||||
Historic volatility | 58.00% | 55.40% | ||
Exercise price | $ 2.50 | $ 2.50 | ||
Share price | $ 2.17 | $ 2.38 | ||
Risk-free interest rate | 1.93% | 2.73% | ||
Dividend yield | 0.00% | 0.00% | ||
Fair value per warrant | (per share) | $ 1.0716 | $ 1.3962 | $ 1.1031 | $ 1.4900 |
Fair value | $ 2,755,375 | $ 2,945,358 |
Non Current Liabilities - Conve
Non Current Liabilities - Convertible Note - Summary of Convertible Note (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of detailed information about borrowings [line items] | |||
Convertible note at fair value at beginning of reporting period | $ 5,778,984 | ||
Net change in fair value | 866,848 | $ 751,816 | $ 607,637 |
Convertible note at fair value at end of reporting period | 6,645,832 | 5,778,984 | |
Convertible Note at Fair Value [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Convertible note at fair value at beginning of reporting period | 5,778,984 | 5,027,168 | |
Net change in fair value | 866,848 | 751,816 | |
Convertible note at fair value at end of reporting period | $ 6,645,832 | $ 5,778,984 | $ 5,027,168 |
Non Current Liabilities - Con_2
Non Current Liabilities - Convertible Note - Additional Information (Detail) - AUD ($) | May 11, 2015 | Jul. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2016 | |
Disclosure of detailed information about borrowings [line items] | |||||
Proceeds from Issuance of warrants and convertible notes | $ 13,750,828 | $ 6,561,765 | $ 13,750,828 | [1] | |
Convertible Notes issued | $ 13,750,828 | $ 9,331,297 | |||
Convertible Notes, Face value | $ 1 | ||||
Convertible notes exercise price | $ 0.02 | ||||
Interest rate | 3.00% | ||||
Number of shares each note is converted | 50 | ||||
Discount rate | 15.00% | ||||
Present Value of the Contractual Cash Flows [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Component of convertible note was initially recorded at fair value | $ 4,400,000 | ||||
Warrants Exercise Price One [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Warrants granted to Ridgeback | 8,475,995 | ||||
Exercise price | 0.025 | ||||
Warrants Exercise Price Two [member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Warrants granted to Ridgeback | 371,445,231 | ||||
Exercise price | 0.0237 | ||||
[1] | Non-cash investing and financing activities relate mainly to the following: • Fair value movement of convertible notes disclosed in Note 15 to the financial statements • Fair value movement of warrant liability disclosed in Note 14 to the financial statements • Exercise of vested performance rights for no cash consideration disclosed in Note 19 to the financial statements |
Non Current Liabilities - Con_3
Non Current Liabilities - Convertible Note - Summary of Assumptions Which were Based on Market Conditions that Existed at Grant Date (Detail) - Convertible Notes [member] | 12 Months Ended |
Jun. 30, 2018AUD ($) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Historic volatility | 85.00% |
Share price | $ 0.051 |
Risk adjusted interest rate | 15.00% |
Dividend yield | 0.00% |
Australian Government Securities Yields [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Risk free interest rate | 2.734% |
Ten year Australian Government Securities Yield [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Risk free interest rate | 2.734% |
Non Current Liabilities - Con_4
Non Current Liabilities - Convertible Note - Summary of Fair Value of Convertible Notes (Detail) | Jun. 30, 2018AUD ($) |
Note - Liability [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Fair value at issuance | $ 4,419,531 |
Fair value movements | 2,226,301 |
Fair value of convertible notes | 6,645,832 |
Conversion Feature - Equity [member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Fair value at issuance | 41,431,774 |
Fair value of convertible notes | $ 41,431,774 |
Current Liabilities - Employe_3
Current Liabilities - Employee Benefits - Summary of Detailed Information of Employee Benefits Current Liabilities (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Annual Leave [member] | ||
Disclosure of defined benefit plans [line items] | ||
Employee benefits | $ 189,514 | $ 43,227 |
Non Current Liabilities - Emplo
Non Current Liabilities - Employee Benefits - Summary of Detailed Information of Employee Benefits Non Current Liabilities (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of defined benefit plans [line items] | ||
Employee benefits | $ 32,303 | $ 20,498 |
Long Service Leave [member] | ||
Disclosure of defined benefit plans [line items] | ||
Employee benefits | $ 32,303 | $ 20,498 |
Contributed Equity - Summary of
Contributed Equity - Summary of Contributed Equity (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of classes of share capital [line items] | ||
Contributed equity | $ 213,232,719 | $ 195,352,543 |
Ordinary Shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Contributed equity | 203,570,765 | 185,690,589 |
Options over ordinary sharesv - Listed [Member] | ||
Disclosure of classes of share capital [line items] | ||
Contributed equity | $ 9,661,954 | $ 9,661,954 |
Contributed Equity - Summary _2
Contributed Equity - Summary of Ordinary Shares (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of classes of share capital [line items] | |||
At the beginning of reporting period, amount | $ 26,532,306 | $ 35,317,513 | $ 24,689,743 |
Transaction costs relating to share issues, amount | 16,142,679 | (8,532) | 13,477,930 |
At reporting date, amount | $ 33,521,927 | $ 26,532,306 | $ 35,317,513 |
Ordinary Shares [member] | |||
Disclosure of classes of share capital [line items] | |||
At the beginning of reporting period, shares | 2,079,742,938 | 2,061,630,944 | |
Number of shares issued during year, shares | 889,880,270 | ||
Number of exercise of options and warrants, shares (Shares issued during the year) | 56,459,461 | 18,111,994 | |
At reporting date, shares | 3,026,082,669 | 2,079,742,938 | 2,061,630,944 |
At the beginning of reporting period, amount | $ 185,690,589 | $ 184,868,978 | |
Shares issued during year, amount | 16,968,200 | ||
Exercise of options and warrants, amount (Shares issued during the year) | 1,737,497 | 830,144 | |
Transaction costs relating to share issues, amount | (825,521) | (8,533) | |
At reporting date, amount | $ 203,570,765 | $ 185,690,589 | $ 184,868,978 |
Contributed Equity - Summary _3
Contributed Equity - Summary of Shares Issued (Detail) - AUD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of classes of share capital [line items] | ||
Issued capital | $ 213,232,719 | $ 195,352,543 |
Issued Equity [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares issued | 946,339,731 | |
Issued capital | $ 18,705,697 | $ 830,144 |
Number of exercise of options and warrants, shares (Shares issued during the year) | 18,111,994 | |
Issued Equity [member] | 0.01 Issue Price member] | ||
Disclosure of classes of share capital [line items] | ||
Shares issued under Securities Purchase Agreement | 263,126,800 | |
Shares issued under Securities Purchase Agreement | $ 0.01 | |
Shares issued under Securities Purchase Agreement | $ 3,806,390 | |
Issued Equity [member] | 0.03 Issue Price member] | ||
Disclosure of classes of share capital [line items] | ||
Number of performance right exercised | 56,459,461 | |
Issue price of performance rights exercised | $ 0.03 | |
Performance rights exercised | $ 1,737,497 | |
Issued Equity [member] | 0.021 Issue Price member] | ||
Disclosure of classes of share capital [line items] | ||
Shares issued under Securities Purchase Agreement | 300,561,089 | |
Share placement | 326,192,381 | |
Shares issued under Securities Purchase Agreement | $ 0.021 | |
Share placement | $ 0.021 | |
Shares issued under Securities Purchase Agreement | $ 6,311,770 | |
Share placement | $ 6,850,040 | |
Issued Equity [member] | 0.05 Issue Price [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of performance right exercised | 18,111,991 | |
Performance rights exercised | $ 830,143 | |
Issue price of performance right exercised | $ 0.05 | |
Issued Equity [member] | 0.20 Issue Price [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of options exercised | 3 | |
Issue price of options exercised | $ 0.20 | |
Options exercised | $ 1 |
Contributed Equity - Summary _4
Contributed Equity - Summary of Unlisted Options (Detail) | 12 Months Ended |
Jun. 30, 2018$ / shares | |
Disclosure of classes of share capital [line items] | |
Number | 726,714,201 |
Unlisted Options Expired on December 12, 2018 [member] | |
Disclosure of classes of share capital [line items] | |
Expiration Date | Dec. 12, 2018 |
Exercise Price | $ 0.05019 |
Number | 147,628,500 |
Unlisted Options Expired on August 4, 2020 [member] | |
Disclosure of classes of share capital [line items] | |
Expiration Date | Aug. 4, 2020 |
Exercise Price | $ 0.02370 |
Number | 371,445,231 |
Unlisted Options Expired on October 30, 2020 [member] | |
Disclosure of classes of share capital [line items] | |
Expiration Date | Oct. 30, 2020 |
Exercise Price | $ 0.05700 |
Number | 793,103 |
Unlisted Options Expired on March 7, 2021 [member] | |
Disclosure of classes of share capital [line items] | |
Expiration Date | Mar. 7, 2021 |
Exercise Price | $ 0.04000 |
Number | 1,026,272 |
Unlisted Options Expired on August 4, 2025 [member] | |
Disclosure of classes of share capital [line items] | |
Expiration Date | Aug. 4, 2025 |
Exercise Price | $ 0.02500 |
Number | 8,475,995 |
Unlisted Options Expired on November 5, 2023 [member] | |
Disclosure of classes of share capital [line items] | |
Expiration Date | Nov. 5, 2023 |
Exercise Price | $ 0.02500 |
Number | 197,345,100 |
Contributed Equity - Summary _5
Contributed Equity - Summary of Unlisted Options (Parenthetical) (Detail) | 12 Months Ended |
Jun. 30, 2018 | |
American Depository Shares [member] | |
Disclosure of classes of share capital [line items] | |
Description of American depository shares | 1 American Depository Shares (ADS) listed on NASDAQ equals 100 ordinary shares listed on ASX thus the number of warrants on issue has been grossed up and the exercise price adjusted accordingly in the above table to be comparable. |
Contributed Equity - Additional
Contributed Equity - Additional Information (Detail) | 12 Months Ended |
Jun. 30, 2018 | |
Disclosure of classes of share capital [line items] | |
Share buy-back | 0 |
Equity - Reserves and Retaine_3
Equity - Reserves and Retained Earnings - Summary of Equity Reserves and Retained Earnings (Detail) - AUD ($) | 12 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | |
Reserves | |||||
Options issued reserve | $ 19,116,205 | $ 19,116,205 | |||
Conversion feature of convertible note reserve | $ 41,431,774 | $ 41,431,774 | $ 41,431,774 | 41,431,774 | 41,431,774 |
Foreign currency translation reserve | 1,096,368 | (232,751) | |||
Share-based payment reserve | 2,703,347 | 2,671,263 | 2,671,263 | 3,229,693 | 2,703,347 |
Ending balance | $ 64,874,040 | $ 63,018,575 | |||
Movement in options issued reserve were as follows: | |||||
Opening balance | 19,116,205 | 19,116,205 | |||
Ending balance | 19,116,205 | 19,116,205 | 19,116,205 | ||
Movements in conversion feature of convertible note reserve: | |||||
Opening balance | 41,431,774 | 41,431,774 | |||
Ending balance | 41,431,774 | 41,431,774 | 41,431,774 | ||
Movement in foreign currency translation reserve were as follows: | |||||
Opening balance | (232,751) | 38,945 | |||
Currency translation differences arising during the year | 1,329,119 | (271,696) | |||
Ending balance | 1,096,368 | (232,751) | 38,945 | ||
Movement in share-based payment reserve were as follows: | |||||
Opening balance | 2,703,347 | 2,671,263 | |||
Employee options issued during the year | 2,263,843 | 862,227 | |||
Exercise of vested performance rights | (1,737,497) | (830,143) | |||
Ending balance | 3,229,693 | 2,703,347 | 2,671,263 | ||
Movement in accumulated losses were as follows: | |||||
Opening balance | (231,838,812) | (222,471,606) | |||
Net loss for the year | (12,746,020) | (9,367,206) | (62,015,184) | ||
Ending balance | $ (244,584,832) | $ (231,838,812) | $ (222,471,606) |
Equity - Reserves and Retaine_4
Equity - Reserves and Retained Earnings - Additional Information (Detail) - $ / shares | Aug. 04, 2015 | Dec. 31, 2014 | Jun. 30, 2016 |
On or Before 4 August 2025 [member] | |||
Disclosure of reserves within equity [line items] | |||
Warrants granted to Ridgeback Capital Investments | 8,475,995 | ||
Warrants exercise price | $ 0.025 | ||
On or Before 4 August 2020 [member] | |||
Disclosure of reserves within equity [line items] | |||
Warrants granted to Ridgeback Capital Investments | 371,445,231 | ||
Warrants exercise price | $ 0.0237 | ||
On or Before October 2, 2017 and December 12, 2018 [member] | |||
Disclosure of reserves within equity [line items] | |||
Warrants granted to Ridgeback Capital Investments | 200,000,000 | ||
Warrants exercise price | $ 0.05019 | ||
Warants exercised by vendors of Immutep S.A. | 52,371,500 |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - AUD ($) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of Dividends [line Items] | ||
Dividends paid | $ 0 | $ 0 |
Dividends declared | $ 0 | $ 0 |
Key Management Personnel Disc_3
Key Management Personnel Disclosures - Summary of Directors and Key Management Personnel Compensation (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of key management personnel compensation [line items] | |||
Short-term employee benefits | $ 1,521,119 | $ 1,256,272 | $ 1,300,140 |
Long-term employee benefits | 11,429 | 6,879 | 5,817 |
Post-employment benefits | 36,370 | 38,184 | 42,471 |
Share-based payments | 1,740,238 | 637,637 | 1,824,643 |
Total employee benefits | $ 3,309,156 | $ 1,938,972 | $ 3,173,071 |
Key Management Personnel Disc_4
Key Management Personnel Disclosures - Additional Information (Detail) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Disclosure of number and weighted average exercise price of outstanding share options [line items] | ||
Number of shares granted | 13,272,356 | 10,023,350 |
Directors and other Key Management Personnel [member] | ||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | ||
Number of shares granted | 0 |
Key Management Personnel Disc_5
Key Management Personnel Disclosures - Summary of Number of Shares Held in Company (Detail) | 12 Months Ended | ||
Jun. 30, 2018shares | Jun. 30, 2017shares | Jun. 30, 2016shares | |
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 10,881,194 | 3,431,373 | 6,004,902 |
Balance at end of the end year Number | 21,481,457 | 10,881,194 | 3,431,373 |
American Depository Receipts [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 45 | 150 | 150 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Other changes during the year | (105) | ||
Balance at end of the end year Number | 45 | 45 | 150 |
Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 73,553,401 | 57,687,280 | 35,515,069 |
Received during the year on exercise of performance rights | 54,825,086 | 16,573,529 | 23,093,135 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Other changes during the year | (25,005,564) | (707,408) | (920,924) |
Balance at end of the end year Number | 103,372,923 | 73,553,401 | 57,687,280 |
Dr Russell Howard [member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Received during the year on the exercise of options | 0 | 0 | 0 |
Mr Pete Meyers [member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 6,862,744 | 4,289,215 | 1,715,686 |
Received during the year on exercise of performance rights | 2,672,093 | 2,573,529 | 2,573,529 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Balance at end of the end year Number | 9,534,837 | 6,862,744 | 4,289,215 |
Mr Marc Voigt [member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 18,271,960 | 11,605,293 | 870,000 |
Received during the year on exercise of performance rights | 23,333,333 | 6,666,667 | 10,735,293 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Balance at end of the end year Number | 41,605,293 | 18,271,960 | 11,605,293 |
Mr grant chamberlain [Member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Received during the year on the exercise of options | 0 | ||
Ms Lucy Turnbull A O [member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 20,359,576 | 20,359,576 | 20,059,576 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Other changes during the year | (20,359,576) | 300,000 | |
Balance at end of the end year Number | 20,359,576 | 20,359,576 | |
Mr Albert Wong [member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 3,837,500 | 3,837,500 | 3,537,500 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Other changes during the year | (3,837,500) | 300,000 | |
Balance at end of the end year Number | 3,837,500 | 3,837,500 | |
Ms Deanne Miller [member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 8,243,572 | 4,950,980 | 20,924 |
Received during the year on exercise of performance rights | 12,333,334 | 4,000,000 | 6,450,980 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Other changes during the year | (808,488) | (707,408) | (1,520,924) |
Balance at end of the end year Number | 19,768,418 | 8,243,572 | 4,950,980 |
Dr Frederic Triebel [member] | Ordinary Shares [member] | |||
Changes In Number Of Shares Outstanding [line items] | |||
Balance at start of the year | 15,978,049 | 12,644,716 | 9,311,383 |
Received during the year on exercise of performance rights | 16,486,326 | 3,333,333 | 3,333,333 |
Received during the year on the exercise of options | 0 | 0 | 0 |
Balance at end of the end year Number | 32,464,375 | 15,978,049 | 12,644,716 |
Key Management Personnel Disc_6
Key Management Personnel Disclosures - Summary of Number of Options Over Ordinary Shares in Parent Entity (Detail) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Granted | 0 | 0 | |
Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Balance at start of the year | 24,765,441 | 29,283,460 | 29,733,460 |
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Other changes | (764,841) | (4,518,019) | (450,000) |
Balance at end of the year Number | 24,000,600 | 24,765,441 | 29,283,460 |
Vested and exercisable | 24,000,600 | 24,765,441 | 29,283,460 |
Unvested | 0 | 0 | 0 |
Ms Lucy Turnbull A O [member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Balance at start of the year | 4,439,894 | 4,439,894 | |
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Other changes | (4,439,894) | ||
Balance at end of the year Number | 4,439,894 | ||
Vested and exercisable | 4,439,894 | ||
Unvested | 0 | 0 | 0 |
Mr Albert Wong [member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Unvested | 0 | 0 | 0 |
Dr Russell Howard [member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Unvested | 0 | 0 | 0 |
Mr Pete Meyers [member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Unvested | 0 | 0 | 0 |
Mr Marc Voigt [member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Balance at start of the year | 643,629 | 721,754 | 1,171,754 |
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Other changes | (643,629) | (78,125) | (450,000) |
Balance at end of the year Number | 643,629 | 721,754 | |
Vested and exercisable | 643,629 | 721,754 | |
Unvested | 0 | 0 | 0 |
Ms Deanne Miller [member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Balance at start of the year | 121,212 | 121,212 | 121,212 |
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Other changes | (121,212) | ||
Balance at end of the year Number | 121,212 | 121,212 | |
Vested and exercisable | 121,212 | 121,212 | |
Unvested | 0 | 0 | 0 |
Dr Frederic Triebel [member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Balance at start of the year | 24,000,600 | 24,000,600 | 24,000,600 |
Granted | 0 | 0 | 0 |
Exercised | 0 | 0 | 0 |
Balance at end of the year Number | 24,000,600 | 24,000,600 | 24,000,600 |
Vested and exercisable | 24,000,600 | 24,000,600 | 24,000,600 |
Unvested | 0 | 0 | 0 |
Mr grant chamberlain [Member] | Options over ordinary shares [member] | |||
Disclosure of number and weighted average exercise price of outstanding share options [line items] | |||
Granted | 0 | ||
Exercised | 0 | ||
Unvested | 0 |
Key Management Personnel Disc_7
Key Management Personnel Disclosures - Summary of Number of Performance Rights Over Ordinary Shares in Parent Entity (Detail) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of key management personnel compensation [line items] | |||
Balance at start of the year | 10,881,194 | 3,431,373 | 6,004,902 |
Granted | 13,272,356 | 10,023,350 | |
Exercised | (2,672,093) | (2,573,529) | (2,573,529) |
Balance at end of the end year Number | 21,481,457 | 10,881,194 | 3,431,373 |
Performance rights [member] | |||
Disclosure of key management personnel compensation [line items] | |||
Balance at start of the year | 42,298,894 | 48,849,073 | 28,455,882 |
Granted | 123,272,356 | 10,023,350 | 43,486,326 |
Exercised | (54,825,086) | (16,573,529) | (23,093,135) |
Balance at end of the end year Number | 110,746,164 | 42,298,894 | 48,849,073 |
Unvested | 110,746,164 | 42,298,894 | 48,849,073 |
Performance rights [member] | Mr Pete Meyers [member] | |||
Disclosure of key management personnel compensation [line items] | |||
Balance at start of the year | 10,881,194 | 3,431,373 | 6,004,902 |
Granted | 10,023,350 | ||
Exercised | (2,672,093) | (2,573,529) | (2,573,529) |
Balance at end of the end year Number | 8,209,101 | 10,881,194 | 3,431,373 |
Unvested | 8,209,101 | 10,881,194 | 3,431,373 |
Performance rights [member] | Mr Marc Voigt [member] | |||
Disclosure of key management personnel compensation [line items] | |||
Balance at start of the year | 18,921,569 | 25,588,236 | 16,323,529 |
Granted | 50,000,000 | 20,000,000 | |
Exercised | (23,333,333) | (6,666,667) | (10,735,293) |
Balance at end of the end year Number | 45,588,236 | 18,921,569 | 25,588,236 |
Unvested | 45,588,236 | 18,921,569 | 25,588,236 |
Performance rights [member] | Mr grant chamberlain [Member] | |||
Disclosure of key management personnel compensation [line items] | |||
Granted | 13,272,356 | ||
Balance at end of the end year Number | 13,272,356 | ||
Unvested | 13,272,356 | ||
Performance rights [member] | Ms Deanne Miller [member] | |||
Disclosure of key management personnel compensation [line items] | |||
Balance at start of the year | 7,676,471 | 11,676,471 | 6,127,451 |
Granted | 25,000,000 | 12,000,000 | |
Exercised | (12,333,334) | (4,000,000) | (6,450,980) |
Balance at end of the end year Number | 20,343,137 | 7,676,471 | 11,676,471 |
Unvested | 20,343,137 | 7,676,471 | 11,676,471 |
Performance rights [member] | Dr Frederic Triebel [member] | |||
Disclosure of key management personnel compensation [line items] | |||
Balance at start of the year | 4,819,660 | 8,152,993 | |
Granted | 35,000,000 | 11,486,326 | |
Exercised | (16,486,326) | (3,333,333) | (3,333,333) |
Balance at end of the end year Number | 23,333,334 | 4,819,660 | 8,152,993 |
Unvested | 23,333,334 | 4,819,660 | 8,152,993 |
Remuneration of Auditors - Summ
Remuneration of Auditors - Summary of Detailed Information About Auditors Remuneration (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Audit fees | |||
Total remuneration of PricewaterhouseCoopers Australia | $ 258,570 | $ 234,250 | $ 441,741 |
Pricewaterhouse Coopers Australia [member] | |||
Audit fees | |||
Audit or review of the financial report | 258,570 | 234,250 | 232,000 |
Other audit and assurance services in relation to regulatory filings overseas | 200,000 | 209,741 | |
Total remuneration of PricewaterhouseCoopers Australia | $ 258,570 | $ 434,250 | $ 441,741 |
Contingent Liabilities - Additi
Contingent Liabilities - Additional Information (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Disclosure of contingent liabilities [line items] | ||
Contingent liabilities | $ 0 | $ 0 |
Commitments for Expenditure - S
Commitments for Expenditure - Schedule of Operating Lease Commitment (Detail) | 12 Months Ended |
Jun. 30, 2018AUD ($) | |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | |
Lease commitments - operating | $ 139,162 |
Less than one year [member] | |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | |
Lease commitments - operating | 117,562 |
Between one and five years [member] | |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | |
Lease commitments - operating | $ 21,600 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Transaction Occur with Related Parties (Detail) | Jun. 30, 2018AUD ($) |
Disclosure of transactions between related parties [line items] | |
In addition to Director's fees, Consultancy fees for post directorship executive duties were paid to Barton Place Pty Ltd, a corporation in which Albert Wong has a beneficial interest | $ 49,500 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) | 12 Months Ended |
Jun. 30, 2018AUD ($) | |
Disclosure of transactions between related parties [line items] | |
Loans to or from related parties | $ 0 |
Receivables from or trade payables to related parties | $ 0 |
Subsidiaries - Summary of Subsi
Subsidiaries - Summary of Subsidiaries (Detail) | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Immutep U.S., Inc [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation | United States | |
Equity holdings | 100.00% | 100.00% |
PRR Middle East FZ LLC [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation | United Arab Emirates | |
Equity holdings | 100.00% | 100.00% |
Immutep GmbH [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation | Germany | |
Equity holdings | 100.00% | 100.00% |
Immutep Australia Pty Ltd [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation | Australia | |
Equity holdings | 100.00% | 100.00% |
Immutep IP Pty Ltd [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation | Australia | |
Equity holdings | 100.00% | 100.00% |
Immutep S.A.S. [member] | ||
Disclosure of subsidiaries [line items] | ||
Country of incorporation | France | |
Equity holdings | 100.00% | 100.00% |
Events Occurring After the Re_2
Events Occurring After the Reporting Date - Additional Information (Detail) - Subsequent Event [Member] $ in Thousands | Oct. 05, 2018USD ($) | Aug. 21, 2018EUR (€) |
Disclosure of non-adjusting events after reporting period [line items] | ||
Cash rebate received | € | € 1,221,906 | |
Proceeds from exercising of ADS Warrants | $ | $ 1,050 |
Reconciliation of Loss After _3
Reconciliation of Loss After Income Tax to Net Cash Used in Operating Activities - Summary of Reconciliation of Loss After Income Tax to Net Cash Used in Operating Activities (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Loss after income tax expense for the year | $ (12,746,020) | $ (9,367,206) | $ (62,015,184) |
Adjustments for: | |||
Depreciation and amortization | 1,808,929 | 1,701,615 | 1,993,093 |
Add back share based payments | 2,263,843 | 862,227 | 2,058,659 |
Changes in fair value of US investor warrant | 189,983 | ||
US warrants transaction costs | 493,487 | ||
Non-cash share based payment to strategic investor | 47,468,071 | ||
Changes in fair value of comparability milestone | 542,075 | ||
Add back (gain) on disposal of assets | (18,493) | ||
Add back Non-cash finance expenses | 0 | 0 | 0 |
Unrealized (gain)/loss on exchange through the profit and loss | (401,557) | (218,567) | 844,864 |
Net change in fair value of convertible note liability | 866,848 | 751,816 | 607,637 |
Change in operating assets and liabilities: | |||
(Increase) in current receivables | (1,237,978) | (2,025,716) | (394,922) |
Decrease/(increase) in other operating assets | (247,396) | (865,245) | 324,983 |
(Decrease)/increase in trade and other payables | 1,075,067 | 1,377,141 | (1,491,882) |
Increase/(decrease) in employee benefits | 158,091 | (7,120) | (45,165) |
(Decrease)/increase in income tax payable | (21,549) | 712 | |
(Decrease) in deferred tax liability | (694,194) | (1,184,139) | |
Net cash flows used in operating activities | $ (7,776,703) | $ (8,506,798) | $ (11,309,691) |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings per share [line items] | |||
Loss after income tax attributable to the owners of Immutep Limited | $ (12,746,020) | $ (9,367,206) | $ (62,015,184) |
Weighted average number of ordinary shares used in calculating basic earnings per share | 2,608,328,140 | 2,284,360,994 | 2,228,477,348 |
Weighted average number of ordinary shares used in calculating diluted earnings per share | 2,608,328,140 | 2,284,360,994 | 2,228,477,348 |
Basic earnings per share | $ (0.49) | $ (0.41) | $ (2.78) |
Diluted earnings per share | $ (0.49) | $ (0.41) | $ (2.78) |
Earnings Per Share - Summary _2
Earnings Per Share - Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Listed Options [member] | |||
Earnings per share [line items] | |||
Anti-dilutive securities excluded from computation of earnings per share | 77,378,693 | ||
Unlisted Options [member] | |||
Earnings per share [line items] | |||
Anti-dilutive securities excluded from computation of earnings per share | 529,369,101 | 531,049,969 | 531,049,969 |
Convertible Notes [member] | |||
Earnings per share [line items] | |||
Anti-dilutive securities excluded from computation of earnings per share | 797,171,907 | 727,075,050 | 706,476,966 |
Performance rights [member] | |||
Earnings per share [line items] | |||
Anti-dilutive securities excluded from computation of earnings per share | 108,964,706 | 33,852,075 | 51,310,083 |
Non-Executive Director Rights [member] | |||
Earnings per share [line items] | |||
Anti-dilutive securities excluded from computation of earnings per share | 21,481,457 | 10,881,194 | 3,431,373 |
US Warrants [member] | |||
Earnings per share [line items] | |||
Anti-dilutive securities excluded from computation of earnings per share | 197,345,100 |
Earnings Per Share - Summary _3
Earnings Per Share - Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share (Parenthetical) (Detail) - American Depository Shares [member] | 12 Months Ended |
Jun. 30, 2018 | |
Earnings per share [line items] | |
Description of American depository shares | 1 American Depository Shares (ADS) listed on NASDAQ equals 100 ordinary shares listed on ASX thus the number of warrants on issue has been grossed up and the exercise price adjusted accordingly in the above table to be comparable. |
US Warrants [member] | |
Earnings per share [line items] | |
Description of American depository shares | 1 American Depository Shares (ADS) listed on NASDAQ equals 100 ordinary shares listed on ASX thus the number of warrants on issue has been grossed up. |
Share - Based Payment - Summari
Share - Based Payment - Summaries of All STI and LTI Performance Rights Granted (Detail) | 12 Months Ended | ||
Jun. 30, 2018$ / shares | Jun. 30, 2017$ / shares | Jun. 30, 2016 | |
Disclosure of other equity instruments [line items] | |||
Balance at start of the year | 10,881,194 | 3,431,373 | 6,004,902 |
Granted during the year Number | 13,272,356 | 10,023,350 | |
Exercised during the year Number | (2,672,093) | (2,573,529) | (2,573,529) |
Balance at end of the end year Number | 21,481,457 | 10,881,194 | 3,431,373 |
Vested and exercisable at end of the year Number | 0 | 0 | 0 |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | |||
Disclosure of other equity instruments [line items] | |||
Balance at start of the year | 33,852,075 | 51,310,083 | |
Granted during the year Number | 128,900,000 | 1,634,375 | |
Exercised during the year Number | (53,787,369) | (15,538,462) | |
Lapsed during the year Number | (3,553,921) | ||
Balance at end of the end year Number | 108,964,706 | 33,852,075 | 51,310,083 |
Vested and exercisable at end of the year Number | 150,000,000 | ||
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | September 19, 2014 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.044 | $ 0.044 | |
Balance at start of the year | 2,757,353 | 5,422,794 | |
Lapsed during the year Number | (2,665,441) | ||
Balance at end of the end year Number | 2,757,353 | 2,757,353 | 5,422,794 |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | September 19, 2014 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.044 | $ 0.044 | |
Balance at start of the year | 919,118 | 1,807,598 | |
Lapsed during the year Number | (888,480) | ||
Balance at end of the end year Number | 919,118 | 919,118 | 1,807,598 |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | November 14, 2014 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.038 | $ 0.038 | |
Balance at start of the year | 9,191,177 | 9,191,177 | |
Balance at end of the end year Number | 9,191,177 | 9,191,177 | 9,191,177 |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | November 14, 2014 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.040 | $ 0.040 | |
Balance at start of the year | 3,063,725 | 3,063,725 | |
Balance at end of the end year Number | 3,063,725 | 3,063,725 | 3,063,725 |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | August 5, 2015 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.047 | $ 0.047 | |
Balance at start of the year | 14,000,001 | 28,000,001 | |
Exercised during the year Number | (14,000,001) | (14,000,000) | |
Balance at end of the end year Number | 14,000,001 | 28,000,001 | |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | October 1, 2015 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.060 | $ 0.060 | |
Balance at start of the year | 600,000 | 600,000 | |
Balance at end of the end year Number | 600,000 | 600,000 | 600,000 |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | October 1, 2015 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.061 | $ 0.061 | |
Balance at start of the year | 200,000 | 200,000 | |
Balance at end of the end year Number | 200,000 | 200,000 | 200,000 |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | March 7, 2016 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.041 | $ 0.041 | |
Balance at start of the year | 1,486,326 | 1,486,326 | |
Exercised during the year Number | (1,486,326) | ||
Balance at end of the end year Number | 1,486,326 | 1,486,326 | |
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | February 10, 2017 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.035 | $ 0.035 | |
Balance at start of the year | 1,634,375 | ||
Granted during the year Number | 1,634,375 | ||
Exercised during the year Number | (1,634,375) | ||
Balance at end of the end year Number | 1,634,375 | ||
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | August 2, 2017 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.020 | ||
Granted during the year Number | 3,900,000 | ||
Balance at end of the end year Number | 3,900,000 | ||
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | November 17, 2017 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.024 | ||
Granted during the year Number | 50,000,000 | ||
Exercised during the year Number | (16,666,667) | ||
Balance at end of the end year Number | 33,333,333 | ||
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | November 28, 2017 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.023 | ||
Granted during the year Number | 15,000,000 | ||
Balance at end of the end year Number | 15,000,000 | ||
Vested and exercisable at end of the year Number | 15,000,000 | ||
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | November 29, 2017 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.023 | ||
Granted during the year Number | 60,000,000 | ||
Exercised during the year Number | (20,000,000) | ||
Balance at end of the end year Number | 40,000,000 | ||
Equity incentive plan [member] | Short term incentives and long term incentives performance rights [member] | December 29, 2015 [member] | |||
Disclosure of other equity instruments [line items] | |||
Fair value | $ 0.050 | ||
Balance at start of the year | 1,538,462 | ||
Exercised during the year Number | (1,538,462) | ||
Balance at end of the end year Number | 1,538,462 |
Share - Based Payment - Model I
Share - Based Payment - Model Inputs for STI Performance Rights Granted (Detail) - Equity incentive plan [member] - Short Term Incentives Performance Rights [member] - $ / shares | Nov. 29, 2017 | Nov. 28, 2017 | Nov. 17, 2017 | Aug. 02, 2017 | Feb. 10, 2017 | Nov. 25, 2016 | Mar. 07, 2016 | Dec. 29, 2015 | Aug. 05, 2015 |
Disclosure of other equity instruments [line items] | |||||||||
Share price at grant date | $ 0.023 | $ 0.023 | $ 0.024 | $ 0.020 | $ 0.035 | $ 0.037 | $ 0.041 | $ 0.050 | $ 0.047 |
Expected price volatility of the Company's shares | 74.00% | 74.00% | 73.00% | 49.00% | 54.00% | 56.00% | 169.00% | 169.00% | 167.00% |
Expected dividend yield | |||||||||
Risk-free interest rate | 1.73% | 1.88% | 1.79% | 1.75% | 1.80% | 1.92% | 2.14% | 1.97% | 2.03% |
Share based Payments - Addition
Share based Payments - Additional Information (Detail) | Aug. 05, 2015 | Jun. 30, 2018 | Jun. 30, 2017shares | Jun. 30, 2016 | Jul. 31, 2017shares |
Disclosure of other equity instruments [line items] | |||||
Fair value of long term incentives | 13,272,356 | 10,023,350 | |||
Options granted | 0 | 0 | |||
Concurrent Private Placement [member] | American Depository Shares [member] | |||||
Disclosure of other equity instruments [line items] | |||||
Number of shares issued | 1,973,451 | ||||
Mr grant chamberlain [Member] | |||||
Disclosure of other equity instruments [line items] | |||||
Share approved for issuance | 13,272,356 | ||||
Performance right conversion ratio in shares | 1 | ||||
Weighted average remaining contractual life of performance rights outstanding | 1 year 2 months 12 days | ||||
Equity incentive plan [member] | |||||
Disclosure of other equity instruments [line items] | |||||
Options granted | 0 | 0 | 0 | ||
Equity incentive plan [member] | Long Term Incentives Performance Rights [member] | August Five Two Thousand Fifteen [member] | |||||
Disclosure of other equity instruments [line items] | |||||
Fair value of long term incentives | 42,000,000 |
Share - Based Payment - Model_2
Share - Based Payment - Model Inputs for These Performance Rights Granted (Detail) - Long Term Incentives Performance Rights [member] | 12 Months Ended |
Jun. 30, 2018$ / shares | |
Disclosure of other equity instruments [line items] | |
Grant date | August 5, 2015 |
Measurement period | August 5, 2015 to August 5, 2017 |
Share price at grant date | $ 0.047 |
Expected price volatility of the Company's shares | 162.00% |
Expected dividend yield | |
Risk-free interest rate | 1.95% |
Share-Based Payments - Model In
Share-Based Payments - Model Inputs for Performance Rights Granted (Detail) - Equity incentive plan [member] - Performance rights [member] | 12 Months Ended |
Jun. 30, 2016$ / shares | |
Performance Rights Grant Date One [member] | |
Disclosure of other equity instruments [line items] | |
Grant date | August 5, 2015 |
Barrier price | CAGR 20% per annum over measurement period |
Share price at grant date | $ 0.047 |
Expected price volatility of the Company's shares | 120.00% |
Expected dividend yield | |
Risk-free interest rate | 2.12% |
Performance Rights Grant Date One [member] | Share-Based Payment Arrangement Tranche One [member] | |
Disclosure of other equity instruments [line items] | |
Measurement period - tranche 1 | August 5, 2015 to October 2, 2017 |
Performance Rights Grant Date One [member] | Share-Based Payment ArrangementTranche Two [member] | |
Disclosure of other equity instruments [line items] | |
Measurement period - tranche 1 | August 5, 2015 to October 2, 2018 |
Performance Rights Grant Date Two [member] | |
Disclosure of other equity instruments [line items] | |
Grant date | October 1, 2015 |
Barrier price | CAGR 20% per annum over measurement period |
Share price at grant date | $ 0.058 |
Expected price volatility of the Company's shares | 120.00% |
Expected dividend yield | |
Risk-free interest rate | 1.94% |
Performance Rights Grant Date Two [member] | Share-Based Payment Arrangement Tranche One [member] | |
Disclosure of other equity instruments [line items] | |
Measurement period - tranche 1 | October 1, 2015 to October 2, 2017 |
Performance Rights Grant Date Two [member] | Share-Based Payment ArrangementTranche Two [member] | |
Disclosure of other equity instruments [line items] | |
Measurement period - tranche 1 | October 1, 2015 to October 2, 2018 |
Share-Based Payments - Summary
Share-Based Payments - Summary of Options Granted Under the EIP (Detail) | 12 Months Ended | ||
Jun. 30, 2018AUD ($) | Jun. 30, 2017AUD ($) | Jun. 30, 2016AUD ($) | |
Disclosure of share options share-based payment arrangement [Line Items] | |||
Granted during the year Number | 0 | 0 | |
Equity incentive plan [member] | |||
Disclosure of share options share-based payment arrangement [Line Items] | |||
Balance at start of the year | 1,680,868 | 1,680,868 | 1,680,868 |
Granted during the year Number | 0 | 0 | 0 |
Exercised during the year Number | 0 | 0 | 0 |
Forfeited during the year Number | (1,680,868) | ||
Balance at end of the year Number | 1,680,868 | 1,680,868 | |
Vested and exercisable at end of the year | 1,680,868 | 1,680,868 | |
Weighted average exercise price, Beginning balance | $ 0.0774 | $ 0.0774 | $ 0.0774 |
Weighted average exercise price, Ending balance | $ 0.0774 | $ 0.0774 | $ 0.0774 |
Equity incentive plan [member] | December 23, 2013 [member] | |||
Disclosure of share options share-based payment arrangement [Line Items] | |||
Expiry date | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2018 |
Exercise price | $ 0.0774 | $ 0.0774 | $ 0.0774 |
Balance at start of the year | 1,515,752 | 1,515,752 | 1,515,752 |
Granted during the year Number | 0 | 0 | 0 |
Exercised during the year Number | 0 | 0 | 0 |
Forfeited during the year Number | (1,515,752) | ||
Balance at end of the year Number | 1,515,752 | 1,515,752 | |
Vested and exercisable at end of the year | 1,515,752 | 1,515,752 | |
Equity incentive plan [member] | January 24, 2014 [member] | |||
Disclosure of share options share-based payment arrangement [Line Items] | |||
Expiry date | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2018 |
Exercise price | $ 0.0774 | $ 0.0774 | $ 0.0774 |
Balance at start of the year | 165,116 | 165,116 | 165,116 |
Granted during the year Number | 0 | 0 | 0 |
Exercised during the year Number | 0 | 0 | 0 |
Forfeited during the year Number | (165,116) | ||
Balance at end of the year Number | 165,116 | 165,116 | |
Vested and exercisable at end of the year | 165,116 | 165,116 |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of Performance Rights Granted (Detail) | 12 Months Ended | ||
Jun. 30, 2018$ / sharesshares | Jun. 30, 2017$ / sharesshares | Jun. 30, 2016$ / sharesshares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Balance at start of the year | 10,881,194 | 3,431,373 | 6,004,902 |
Granted during the year Number | 13,272,356 | 10,023,350 | |
Exercised during the year Number | (2,672,093) | (2,573,529) | (2,573,529) |
Lapsed during the year Number | 0 | 0 | 0 |
Balance at end of the end year Number | 21,481,457 | 10,881,194 | 3,431,373 |
Vested and exercisable at end of the year Number | 0 | 0 | 0 |
November14, 2014 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Grant date | Nov. 14, 2014 | Nov. 14, 2014 | Nov. 14, 2014 |
Type of performance right granted | Director rights | Director rights | Director rights |
Fair value | $ / shares | $ 0.037 | $ 0.037 | $ 0.037 |
Balance at start of the year | 857,844 | 3,431,373 | 6,004,902 |
Exercised during the year Number | (857,844) | (2,573,529) | (2,573,529) |
Lapsed during the year Number | 0 | 0 | 0 |
Balance at end of the end year Number | 857,844 | 3,431,373 | |
Vested and exercisable at end of the year Number | 0 | 0 | 0 |
November14, 2014 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Grant date | Nov. 25, 2016 | Nov. 25, 2016 | |
Type of performance right granted | Director rights | Director rights | |
Fair value | $ / shares | $ 0.038 | $ 0.038 | |
Balance at start of the year | 10,023,350 | ||
Granted during the year Number | 10,023,350 | ||
Exercised during the year Number | (1,814,249) | ||
Lapsed during the year Number | 0 | 0 | |
Balance at end of the end year Number | 8,209,101 | 10,023,350 | |
Vested and exercisable at end of the year Number | 0 | 0 | |
November14, 2014 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Grant date | Nov. 17, 2017 | ||
Type of performance right granted | Director rights | ||
Fair value | $ / shares | $ 0.024 | ||
Granted during the year Number | 13,272,356 | ||
Lapsed during the year Number | 0 | ||
Balance at end of the end year Number | 13,272,356 | ||
Vested and exercisable at end of the year Number | 0 |
Share-Based Payments - Summar_3
Share-Based Payments - Summary of Options Granted (Detail) | 12 Months Ended | |
Jun. 30, 2018AUD ($)shares | Jun. 30, 2017 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Granted during the year Number | 0 | 0 |
Ridgeback Capital Investments and Trout Group LLC. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Balance at start of the year | 381,740,601 | |
Granted during the year Number | 0 | |
Exercised during the year Number | 0 | |
Forfeited during the year Number | 0 | |
Balance at end of the year Number | 381,740,601 | 381,740,601 |
Vested and exercisable at end of the year Number | 381,740,601 | |
July 31,2015 [member] | Ridgeback Capital Investments and Trout Group LLC. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Grant date | Jul. 31, 2015 | |
Expiry date | Aug. 5, 2020 | |
Exercise price | $ | $ 0.0237 | |
Balance at start of the year | 371,445,231 | |
Granted during the year Number | 0 | |
Exercised during the year Number | 0 | |
Forfeited during the year Number | 0 | |
Balance at end of the year Number | 371,445,231 | 371,445,231 |
Vested and exercisable at end of the year Number | 371,445,231 | |
July 31,2015 [member] | Ridgeback Capital Investments and Trout Group LLC. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Grant date | Jul. 31, 2015 | |
Expiry date | Aug. 5, 2021 | |
Exercise price | $ | $ 0.0250 | |
Balance at start of the year | 8,475,995 | |
Granted during the year Number | 0 | |
Exercised during the year Number | 0 | |
Forfeited during the year Number | 0 | |
Balance at end of the year Number | 8,475,995 | 8,475,995 |
Vested and exercisable at end of the year Number | 8,475,995 | |
October30,2015 [member] | Ridgeback Capital Investments and Trout Group LLC. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Grant date | Oct. 30, 2015 | |
Expiry date | Oct. 30, 2020 | |
Exercise price | $ | $ 0.0570 | |
Balance at start of the year | 793,103 | |
Granted during the year Number | 0 | |
Exercised during the year Number | 0 | |
Forfeited during the year Number | 0 | |
Balance at end of the year Number | 793,103 | 793,103 |
Vested and exercisable at end of the year Number | 793,103 | |
March7,2016 [member] | Ridgeback Capital Investments and Trout Group LLC. [member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Grant date | Mar. 7, 2016 | |
Expiry date | Mar. 7, 2021 | |
Exercise price | $ | $ 0.0400 | |
Balance at start of the year | 1,026,272 | |
Granted during the year Number | 0 | |
Exercised during the year Number | 0 | |
Forfeited during the year Number | 0 | |
Balance at end of the year Number | 1,026,272 | 1,026,272 |
Vested and exercisable at end of the year Number | 1,026,272 |
Share-Based Payments - Total Ex
Share-Based Payments - Total Expenses Arising from Share-Based Payment Transactions (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Employee share-based payment expense | $ 2,263,843 | $ 862,227 | $ 1,976,417 |
Share-based payment expense | $ 2,263,843 | $ 862,227 |
Parent Entity Information - Sta
Parent Entity Information - Statement of Comprehensive Loss of Parent Entity (Detail) - AUD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Disclosure Of Parent Entity Information [line Items] | |||
Loss after income tax | $ (12,746,020) | $ (9,367,206) | $ (62,015,184) |
Total comprehensive loss | (11,416,901) | (9,638,902) | (61,708,187) |
Parent [member] | |||
Disclosure Of Parent Entity Information [line Items] | |||
Loss after income tax | (14,687,752) | (8,526,159) | (61,973,221) |
Total comprehensive loss | $ (14,687,752) | $ (8,526,159) | $ (61,973,221) |
Parent Entity Information - S_2
Parent Entity Information - Statement of Financial Position of Parent Entity (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Disclosure Of Parent Entity Information [line Items] | ||||
Total current assets | $ 28,643,179 | $ 15,919,258 | ||
Total non current assets | 18,355,604 | 19,044,538 | ||
Total assets | 46,998,783 | 34,963,796 | $ 42,554,067 | |
Total current liabilities | 3,853,363 | 2,632,008 | ||
Total non current liabilities | 9,623,493 | 5,799,482 | ||
Total liabilities | 13,476,856 | 8,431,490 | 7,236,554 | |
EQUITY | ||||
Contributed equity | 213,232,719 | 195,352,543 | ||
Reserves | 64,874,040 | 63,018,575 | ||
Total equity | 33,521,927 | 26,532,306 | $ 35,317,513 | $ 24,689,743 |
Parent [member] | ||||
Disclosure Of Parent Entity Information [line Items] | ||||
Total current assets | 23,589,353 | 13,220,743 | ||
Total non current assets | 18,698,068 | 20,936,849 | ||
Total assets | 42,287,421 | 34,157,592 | ||
Total current liabilities | 615,027 | 1,189,848 | ||
Total non current liabilities | 10,630,814 | 6,482,571 | ||
Total liabilities | 11,245,841 | 7,672,419 | ||
EQUITY | ||||
Contributed equity | 213,232,719 | 195,352,543 | ||
Reserves | 64,615,312 | 63,251,328 | ||
Accumulated losses | (246,806,451) | (232,118,699) | ||
Total equity | $ 31,041,580 | $ 26,485,173 |
Parent Entity Information - Add
Parent Entity Information - Additional Information (Detail) - AUD ($) | Jun. 30, 2018 | Jun. 30, 2017 |
Parent [member] | ||
Disclosure Of Parent Entity Information [line Items] | ||
Capital commitments for property, plant and equipment | $ 0 | $ 0 |