Announcement PDF 31 DECEMBER 2024 HALF YEAR REPORT Immuron Ltd 0 Immuron Limited Appendix 4D Half-year report 1. Company details Name of entity: ABN: Reporting period: Previous period: Immuron Limited 80 063 114 045 For the period ended 31 December 2024 For the period ended 31 December 2023 2. Results for announcement to the market $ Revenue from ordinary activities up 69.6% to 3,994,341 Loss from ordinary activities after tax attributable to the members of Immuron Limited up 20.0% to (2,488,819) Loss for the period attributable to the members of Immuron Limited up 20.0% to (2,488,819) 3. Net tangible assets Consolidated 31 December 31 December 2024 2023 Cents Cents Net tangible asset backing (per share) 4.46 7.62 The calculation of net tangible assets excludes right-of-use assets arising from AASB 16 Leases. 4. Explanation of results An explanation of the key financial elements contributing to the revenue and result above can be found in the review of operations included within the directors' report. 5. Distributions No dividends have been paid or declared by the company for the current financial period. No dividends were paid for the previous financial period. 6. Changes in controlled entities There have been no changes in controlled entities during the period ended 31 December 2024. 7. Details of associates and joint venture entities Name of entity Ateria Health Limited 31 December 31 December 2024 2023 Place of business/country of incorporation % % United Kingdom 23.6% 17.5% 8. Interim review The financial statements have been reviewed by the group's independent auditor without any modified opinion, disclaimer or emphasis of matters. Immuron Limited ABN 80 063 114 045 Interim financial report for the half-year ended 31 December 2024 Immuron Limited Contents 31 December 2024 Review of operations and activities Directors' report Auditor's independence declaration Consolidated statement of profit or loss and other comprehensive income Consolidated statement of financial position Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements Directors' declaration Independent auditor's review report to the members of Immuron Limited 2 6 7 9 10 11 12 13 21 22 This interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report should be read in conjunction with the annual report for the year ended 30 June 2024 and any public announcements made by Immuron Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001. Directors’ report Immuron Limited 0 Immuron Limited Review of operations and activities 31 December 2024 Review of operations and activities Key highlights • Record sales of A$4.0 million for HY25, up A$1.6 million on FY24 • Immuron Plans Phase 2 Trial for IMM-529 following FDA review • Updated peak sales US forecast by Lumanity for IMM-529: in C.difficile infection increased from US$93 million to US$400 million following positive FDA feedback on pre-IND filing • Uniformed Services University Travelan® clinical field trial reaches 100% recruitment • Travelan® (IMM-124E) Phase 2 Clinical Study Report submitted to the FDA • Travelan® (IMM-124E) Phase 2 Clinical Study Statistically Significant Immunology Results • Travelan® (IMM-124E) Phase 2 Clinical Study Statistically Significant Microbiome Responses • Immuron Announces New Research Collaboration targeting Antimicrobial Resistance Financial review Immuron Limited has reported a loss for the half-year ended 31 December 2024 of A$2,488,819 (31 December 2023: A$2,073,182). The group's net assets decreased to A$10,339,516 compared with A$12,709,484 at 30 June 2024, including cash reserves of A$7,736,399 (30 June 2024: A$11,657,315). Revenue from ordinary activities for the half-year ended 31 December 2024 was A$3,994,341 (31 December 2023: A$2,355,580) for Hyperimmune products. Gross profit of A$2,657,049 (31 December 2023: A$1,580,348). Operating loss of A$2,538,791 (31 December 2023: A$2,020,028). Record half yearly sales of A$4.0 million for HY25 up A$1.6 million on HY24 Australia: Sales of Travelan® increased to AUD $2.9 million in HY25, compared to AUD $1.9 million in HY24. Sales increased by $1.0 million (54%). USA: Sales of Travelan® increased to AUD $0.7 million in HY25, compared to AUD $0.5 million in HY24. Sales increased by $0.2 million (52%). Canada: Sales of Travelan® increased to AUD $0.4 million in HY25 compared to zero in HY24. Immuron submits IMM-529 pre-IND to FDA Immuron filed a pre-IND (investigational new drug) application with the United States Food and Drug Administration (FDA) for IMM529. The increased incidence of antibiotic resistant ‘superbugs’ has amplified the use of broad-spectrum antibiotics worldwide. An unintended consequence of antimicrobial treatment is disruption of the gastrointestinal microbiota, resulting in susceptibility to opportunistic pathogens, such as Clostridioides difficile (C. diff). Paradoxically, treatment of Clostridioides difficile infection (CDI) also involves antibiotic use, and the heavy reliance on antibiotics to control C. diff does not allow for the gut flora to regenerate and predisposes the patient to relapsing CDI. C. diff is currently the most common pathogen in healthcare associated infections and was deemed an urgent threat in the Center for Disease Control and Prevention’s report on antibiotic resistance threats in the United States (CDC, 2019). CDI affects over 400,000 people in the US on a yearly basis, contributing to over 30,000 deaths in the US alone annually. This serious health threat has led to an urgent call for the development of new therapeutics to reduce or replace the use of antibiotics to treat bacterial infections. To address this need, Immuron is developing IMM-529 as an adjunctive therapy in combination with standard of care antibiotics for the prevention and/or treatment of recurrent CDI. IMM-529 antibodies targeting C. diff may help to clear CDI infection and promote a quicker re-establishment of normal gut flora, providing an attractive oral preventative for recurrent CDI. Immuron is collaborating with Dr. Dena Lyras and her team at Monash University, Australia to develop vaccines to produce bovine colostrum-derived antibodies. Dairy cows were immunised to generate hyperimmune bovine colostrum (HBC) that contains antibodies targeting three essential C. diff virulence components. Immuron Limited Review of operations and activities 31 December 2024 IMM-529 targets Toxin B (TcB), the spores and the surface layer proteins of the vegetative cells. This unique 3-target approach has yielded promising results in pre-clinical infection and relapse models, including (1) Prevention of primary disease (80% P =0.0052); (2) Protection of disease recurrence (67%, P 0.01) and (3) Treatment of primary disease (78.6%, P0.0001; TcB HBC). Importantly IMM-529 antibodies cross-react with whole cell lysates of many different human strains of C. diff including hypervirulent strains. To our knowledge, IMM-529 is, to date, the only investigational drug that has shown therapeutic potential in all three phases of the disease. https://doi.org/10.1038/s41598-017-03982-5 Immuron achieves record Travelan® sales Global Australia USA Canada HY 2025 AUD$4.0 million up 70% on prior comparative period (pcp) December 2024 Quarter AUD$2.5 million up 249% on pcp and 70% on prior quarter HY 2025 AUD$2.9 million up 54% on pcp December 2024 Quarter AUD$1.9 million up 314% on pcp and 83% on prior quarter HY 2025 AUD$0.7 million up 52% on pcp December 2024 Quarter AUD$0.4 million up 65% on pcp; up 58% on prior quarter HY 2025 AUD$0.4 million; pcp was zero Immuron provides IMM-124E (Travelan®) Phase 2 additional data analysis of Protective Efficacy · Further analysis of the Phase 2 Study found that some subjects did not experience any diarrhoea until after antibiotics were administered · Diarrhoea could be related to antibiotic administration · Protective Efficacy was calculated for the 5-day period post challenge · There were 4 subjects in the Travelan® group that did not experience any diarrhoea until antibiotics were administered · There was a 43.8% reduction in diarrhoea in the Travelan® group which is approaching statistical significance (p=0.066) · Analysis all safety data set (63 subjects) and additional 3 subjects who were not challenged · Considers all Adverse Events and number of events over the whole study period pre and post challenge . Number of events is reduced in the Travelan® treated group for all organ classes Immuron Announces New U.S. Department of Defense Research Award for Naval Medical Research Command and Walter Reed Army Institute of Research to advance Travelan® The U.S. Department of Defense has funded a new program for the Naval Medical Research Command and Walter Reed Army Institute of Research to develop enhanced formulations of Travelan® potentially expanding the coverage of the product as a therapeutic against endemic military relevant diarrheal pathogens. This work will utilize the extensive experience of the U.S. Department of Defense human infectious disease vaccine programs and will target key protective antigens of the major enteric bacterial pathogens Campylobacter, Shigella and Enterotoxigenic E. coli strains not present in the current product formulation. Immuron will negotiate a sub award for this new collaboration with NMRC and WRAIR to advance this research. Immuron Plans Phase 2 Trial for IMM-529 following FDA review Immuron received favourable feedback from the United States Food and Drug Administration (FDA) on the pre-IND (investigational new drug) information package to support the clinical development of IMM-529. Following the FDA’s guidance and feedback, the Company now plans to file an investigational new drug (IND) application for IMM-529 to prevent or treat Clostridioides difficile infection (CDI) during the first half of 2025, followed by a Phase 2 trial of IMM-529 in individuals with Clostridioides difficile infection. Immuron Limited Review of operations and activities 31 December 2024 NMRC Reports Results for Campylobacter Controlled Human Infection Model Study The Naval Medical Research Command completed the interim analysis for the clinical evaluation of a new oral therapeutic targeting Campylobacter and Enterotoxigenic Escherichia coli (ETEC). Trial Conclusions: · CampETEC was well-tolerated · No moderate or severe adverse events were reported · CampETEC did not significantly prevent campylobacteriosis · Regimen dose of CampETEC not enough / too many bacteria in the inoculum · Targeting the polysaccharide capsule may not prevent epithelial cell invasion Future Direction: · NMRC to evaluate: o New vaccine candidates which target Campylobacter (e.g. whole cells and Surface layer proteins of the flagellum, a whip-like appendage that enables bacterial motility) for the development of HBC · USD $2.3 million funding for NMRC and Walter Reed Army Institute of Research (WRAIR) approved by the U.S. Department of Defense o This work will utilize the extensive experience of the US Department of Defense human infectious disease vaccine programs, and one part of this program will target key protective antigens of the enteric bacterial pathogen campylobacter Immuron CEO provides key updates at 21st Virtual Investor Summit Microcap Event · Travelan® (IMM-124E) Travelan® Uniformed Services University IMM-124E Phase 4 trial NCT04605783 reaches recruitment of ~90% of 866 participants; post-conference: 100% recruitment was achieved in February 2025 · Updated peak sales US forecast by Lumanity for IMM-529: in C.difficile infection increased from US$93 million to US$400 million following positive FDA feedback on pre-IND filing · Travelan® was the #1 SKU in the Antidiarrheal category across Chemist Warehouse pharmacy in Australia (IQVIA Australia Pharmacy Scan - Antidiarrheal segment, value sales 4 weeks to 28 September 2024) · Immuron achieves record monthly sales in October 2024 of A$1.49 million (unaudited) Immuron Announces Travelan® Clinical Trial Update Travelan® (IMM-124E) Phase 2 Clinical Study NCT05933525: A Randomized, Double-blind, Placebo-controlled Trial Assessing the Efficacy of IMM-124E (Travelan®) in a Controlled Human Infection Model for Enterotoxigenic Escherichia Coli (ETEC) Immunology Statistically significant lower levels of IgA and IgG were observed for the subjects who received Travelan® compared to those who received the placebo, which may also reflect levels of exposure to ETEC antigen. Travelan® antibodies target and bind to ETEC antigen in the gastrointestinal tract, block LPS epitopes and therefore reduce antigen exposure, resulting in lower overall IgA and IgG antibody titers. Clinical data also demonstrated there was a statistically significant reduction in the number of colony forming units (CFUs) in the stools of subjects who received Travelan® (p =0.0121), measured 48 hours post challenge, indicating faster clearance of the challenge strain from the GI tract. Microbiome Participants in the Travelan® group have a more stable gastrointestinal microbiota over the treatment time period when compared with the Placebo group. Alpha diversity, a measurement of the richness (how many different species) and evenness (abundance or number of different species) revealed that the Travelan group had improved richness and Shannon diversity results compared to the Placebo group. The data indicated a difference in the richness in the diversity of certain species rather than just the abundance or number of bacterial species between the two groups. Statistically significant differences were identified between the two treatment groups in the Beta diversity tests (number of species and abundance). The relative abundance results revealed that the Travelan group had increased levels of beneficial bacteria such as Akkermansia and Faecalibacterium. The differential abundance results confirmed increases in Agathobaculum, Slackia the Eubacterium eligens group, and the Eubacterium siraeum group; and decreases in Rumminococcus and Bacteroides. The abundance data indicates a possible link between the species of bacteria associated with reduced inflammation. Immuron Limited Review of operations and activities 31 December 2024 This study data implies that Travelan® appears to aid in the reduction and clearance over time of pathological ETEC bacteria, by shortening the recovery period after ETEC challenge. The mechanism indicates there is an increase in the propagation of bacteria associated with decreases in inflammation and repairing the intestinal lining. Further investigation into this association is required to fully understand the benefits of Travelan ® on the gut microbiome. Immuron Announces New Research Collaboration targeting Antimicrobial Resistance Immuron announced a new research collaboration with Monash University. The major objective of this research collaboration is to develop new therapeutic drug candidates which target antimicrobial resistant pathogens. This work will utilize the Immuron technology platform, and the extensive experience of the Biomedicine Discovery Institute research team lead by Professor Dena Lyras. The first project proposal will focus on the underlying mechanisms which bacteria utilise to share and transfer their DNA. A process which can rapidly alter the functional capacity and characteristics of a bacterium, resulting in the emergence of antimicrobial resistance (AMR) with the aim to develop broad spectrum therapeutic drug products. The second project proposal will specifically target Vancomycin-resistant enterococci (VRE) and as the name suggests VRE are bacteria that are resistant to the antibiotic vancomycin. VRE are opportunistic nosocomial pathogens that have emerged as a major healthcare problem worldwide. The two most clinically significant enterococci, Enterococcus faecalis and Enterococcus faecium, are associated with a range of nosocomial infections in elderly and immunosuppressed patients. VRE complicates outcomes for at-risk patients, increasing their risk of developing subsequent infections and/or transmitting VRE to other patients. VRE colonisation has been associated with an increased risk of bacteremia, infections at other body sites and can also lead, in severe cases, to mortality. The global market for antibiotics is projected to reach $57.0 billion by 2026 with a compound annual growth rate (CAGR) of 4.0%. The rising prevalence of drug-resistant infections, including VRE, is expected to drive the demand for new and innovative treatments in this space. Immuron Limited Directors' report 31 December 2024 The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'group') consisting of Immuron Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the period ended 31 December 2024. Directors The following persons were directors of Immuron Limited during the whole of the financial period and up to the date of this report, unless otherwise stated: Mr Paul Brennan, Independent Non-Executive Chairman Mr Daniel Pollock, Independent Non-Executive Director Prof. Ravi Savarirayan, Independent Non-Executive Director Dr. Jeannette Joughin, Independent Non-Executive Director Principal activities We are a commercial and clinical-stage biopharmaceutical company with a proprietary technology platform focused on the development and commercialisation of a novel class of specifically targeted polyclonal antibodies in the treatment of diseases associated with the gastrointestinal tract. We believe that we can address this significant unmet medical need. Our polyclonal antibodies are orally active and offer localised delivery within the gastrointestinal (“GI”) tract. As our products do not cross from the gut into the bloodstream, they potentially offer much improved safety and tolerability, without sacrificing efficacy. We currently market our flagship commercial products Travelan® and Protectyn® in Australia, both products are listed medicines on the Australian Register for Therapeutic Goods. Travelan® is an over-the-counter product indicated to reduce the risk of traveller's’ diarrhoea and is sold in pharmacies throughout Australia. Protectyn® is currently sold online and in health practitioner clinics and is marketed as an immune supplement to help maintain a healthy digestive function and liver. We also market Travelan® in Canada where it is licensed as a natural health product indicated to reduce the risk of traveller's’ diarrhoea, and presently market Travelan® in the U.S. as a dietary supplement for digestive tract protection. We believe that our lead drug candidates, currently in clinical development have the potential to transform the existing treatment paradigms for Enterotoxigenic Escherichia coli (ETEC) infections, traveller's’ diarrhoea and for Clostridioides difficile infections. Review of operations Information on the financials and operations of the group and its business strategies and prospects is set out in the review of operations and activities on pages 2 to 5 of this interim financial report. Auditor's independence declaration A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors' report. This report is made in accordance with a resolution of directors, pursuant to section 306(3)(a) of the Corporations Act 2001. On behalf of the directors ___________________________ Mr Paul Brennan Independent Non-Executive Chairman 28 February 2025 Grant Thornton Audit Pty Ltd Level 22 Tower 5 Collins Square 727 Collins Street Melbourne VIC 3008 GPO Box 4736 Melbourne VIC 3001 T +61 3 8320 2222 Auditor’s Independence Declaration To the Directors of Immuron Limited In accordance with the requirements of section 307C of the Corporations Act 2001, as lead auditor for the review of Immuron Limited for the half-year ended 31 December 2024. I declare that, to the best of my knowledge and belief, there have been: a no contraventions of the auditor independence requirements of the Corporations Act 2001 in relation to the review; and b no contraventions of any applicable code of professional conduct in relation to the review. Grant Thornton Audit Pty Ltd Chartered Accountants T S Jackman Partner – Audit & Assurance Melbourne, 28 February 2025 www.grantthornton.com.au ACN-130 913 594 Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389. ‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Limited is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 ACN 127 556 389 and its Australian subsidiaries and related entities. Liability limited by a scheme approved under Professional Standards Legislation. Financial statements Immuron Limited 0 Immuron Limited Consolidated statement of profit or loss and other comprehensive income For the period ended 31 December 2024 Consolidated 31 December 31 December Note 2024 2023 $ $ Revenue from contracts with customers 2 3,994,341 2,355,580 (1,337,292) 2,657,049 (775,232) 1,580,348 572,150 74,088 646,238 2,485,353 (750,560) 1,734,793 Expenses General and administrative expenses Research and development expenses Selling and marketing expenses (2,257,765) (1,982,138) (1,602,175) (1,949,230) (2,653,086) (732,853) Operating loss (2,538,791) (2,020,028) 53,993 (4,021) - 153,508 (4,007) (202,655) (2,488,819) (2,073,182) - - (2,488,819) (2,073,182) Items that may be reclassified subsequently to profit or loss Exchange differences on translation of foreign operations (expense)/income (13,608) 4,441 Other comprehensive (loss)/income for the period (13,608) 4,441 Total comprehensive loss for the period (2,502,427) (2,068,741) Loss per share for profit attributable to the ordinary equity holders of the company: Cents Cents Cost of goods sold Gross profit Other income Other gains/(losses) Total other income including gains/(losses) Finance income Finance expenses Share of loss from equity accounted associate 3 12 Loss before income tax expense Income tax expense Loss after income tax expense for the period attributable to the members of Immuron Limited Other comprehensive income/(loss) Basic earnings per share Diluted earnings per share 13 13 (1.09) (1.09) (0.91) (0.91) The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes Immuron Limited Consolidated statement of financial position As at 31 December 2024 Consolidated 31 December Note 2024 30 June 2024 $ $ Assets Current assets Cash and cash equivalents Trade and other receivables Inventories Other current assets Total current assets 7,736,398 2,241,336 1,516,761 260,850 11,755,345 11,657,315 1,387,573 1,584,608 96,841 14,726,337 135,180 279,229 414,409 154,347 669,285 823,632 12,169,754 15,549,969 1,287,603 397,945 43,182 1,728,730 2,135,852 522,571 40,556 2,698,979 9,073 92,435 101,508 8,605 132,941 141,546 Total liabilities 1,830,238 2,840,525 Net assets 10,339,516 12,709,444 4 Non-current assets Property, plant and equipment Inventories Total non-current assets Total assets Liabilities Current liabilities Trade and other payables Employee benefits Other current liabilities Total current liabilities Non-current liabilities Employee benefits Other non-current liabilities Total non-current liabilities Equity Issued capital Reserves Accumulated losses Total equity 5 6 88,587,043 88,504,043 2,249,821 3,173,797 (80,497,348) (78,968,396) 10,339,516 12,709,444 The above consolidated statement of financial position should be read in conjunction with the accompanying notes Immuron Limited Consolidated statement of changes in equity For the period ended 31 December 2024 Consolidated Issued capital $ Balance at 1 July 2023 88,436,263 3,235,969 (72,055,396) 19,616,836 Loss after income tax expense for the period Other comprehensive income - 4,441 (2,073,182) - (2,073,182) 4,441 Total comprehensive income/(loss) for the period - 4,441 (2,073,182) (2,068,741) Transactions with members in their capacity as members: Options and warrants issued/expensed (net of adjustments) - (21,580) - (21,580) Balance at 31 December 2023 88,436,263 3,218,830 (74,128,578) 17,526,515 Consolidated Issued capital $ Balance at 1 July 2024 88,504,043 3,173,797 (78,968,396) 12,709,444 Loss after income tax expense for the period Other comprehensive loss for the period - (13,608) (2,488,819) - (2,488,819) (13,608) Total comprehensive loss for the period - (13,608) (2,488,819) (2,502,427) 83,000 - (959,867) 48,303 (83,000) 84,196 959,867 - 48,303 84,196 88,587,043 2,249,821 (80,497,348) 10,339,516 Transactions with members in their capacity as members: Expired options (Note 6) Options and Warrants expensed (Note 6) Exercise of Performance rights (Note 6) Issue of Performance Rights (Note 6) Balance at 31 December 2024 Reserves $ Reserves $ Accumulated losses Total equity $ $ Accumulated losses Total equity $ $ The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes Immuron Limited Consolidated statement of cash flows For the period ended 31 December 2024 Consolidated 31 December 31 December 2024 2023 $ $ Cash flows from operating activities Receipts from customers (inclusive of GST) Payments to suppliers (inclusive of GST) Australian R&D tax incentive refund Grants received from government and non-government sources 3,678,705 (7,980,132) 308,043 2,227,615 (6,332,678) 395,002 1,706,225 Net cash used in operating activities (3,993,384) (2,003,836) Cash flows from investing activities Interest received 53,993 153,508 Net cash from investing activities 53,993 153,508 Cash flows from financing activities Principal elements of lease payments Interest and other costs of finance paid (37,880) (4,021) (19,163) (4,007) Net cash used in financing activities (41,901) (23,170) Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the financial period Effects of exchange rate changes on cash and cash equivalents (3,981,292) 11,657,315 60,375 (1,873,498) 17,159,764 (72,804) Cash and cash equivalents at the end of the financial period 7,736,398 15,213,462 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes Immuron Limited Notes to the consolidated financial statements 31 December 2024 1. Segment and revenue information Description of segments and principle activities The group has identified its operating segments based on the internal reports that are reviewed and used by the executive management team in assessing performance and determining the allocation of resources. Management considers the business from both a product and a geographic perspective and has identified two reportable segments: ● ● Research and development (R&D): income and expense directly attributable to the group’s R&D projects performed in Australia and United States. Hyperimmune products: income and expenses directly attributable to Travelan and Protectyn activities which occur predominantly in Australia, the Unites States and Canada. Segment results Consolidated entity 31 December 2024 Hyperimmune products revenue Cost of sales of goods Gross profit Research and Hyperimmune development products $ $ Corporate $ Total $ - 3,994,341 (1,337,292) 2,657,049 - 3,994,341 (1,337,292) 2,657,049 562,628 - 9,522 - 74,088 572,150 74,088 (1,982,138) (1,419,510) (1,602,175) 1,064,396 (2,257,765) (2,183,677) (2,257,765) (1,982,138) (1,602,175) (2,538,791) - - 53,993 (4,021) 53,993 (4,021) Share of loss from equity accounted associate Profit/(loss) for the period (1,419,510) 1,064,396 (2,133,705) (2,488,819) Assets Segment assets Total assets 1,060,582 1,060,582 2,944,262 2,944,262 8,164,910 8,164,910 12,169,754 12,169,754 Liabilities Segment liabilities Total liabilities 772,144 772,144 358,880 358,880 699,214 699,214 1,830,238 1,830,238 Other income Other gains/(losses) – net General and administrative expenses/adjustments Research and development expenses Selling and marketing expenses Operating profit/(loss) Finance income Finance costs Immuron Limited Notes to the consolidated financial statements 31 December 2024 1. Segment and revenue information (continued) Consolidated entity 31 December 2023 Research and Hyperimmune development products $ $ Hyperimmune products revenue Cost of sales of goods Gross profit Corporate $ Total $ - 2,355,580 (775,232) 1,580,348 - 2,355,580 (775,232) 1,580,348 Other income Other gains/(losses) – net 2,478,366 - 6,987 - (750,560) 2,485,353 (750,560) General and administrative expenses/adjustments Research and development expenses Selling and marketing expenses Operating profit/(loss) (2,653,0