Why the Immuron (ASX:IMC) share price fell today

The Immuron Ltd (ASX: IMC) share price closed over 4.4% lower today at 22 cents a share.

The slide follows the release of the biotechnology company’s half-year (1H21) results for the period ended 31 December 2020.

Let’s take a closer look at how Immuron has been performing recently.

What did Immuron report?

The company reported a 98.7% revenue crash for the period, with 1H21 revenue coming in at $20,000.

Immuron incurred a $5.7 million loss for the period, which was 277.2% greater than the $1.5 million loss of 1H20.

Compared to 30 June 2020, the group’s net assets increased from $5.6 million to $28.5 million as of 31 December 2020. Cash reserves also increased over this period from $3.3 million to $26.4 million.

The business…