Business
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.
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