Ann: Phase II TACTI-002 trial recruitment successfully completed, page-74

All valid points - good discussion.
Some follow up observations- all IMO of course.

Marc has done a great job. Without his vision to approach Frédéric and buy Immutep, none of us would be here discussing future possibilities. He is very 'dry' and more typical of a CFO rather than CEO. We hear nothing of or from our chairman - who is usually the entrepreneur and marketing/promo 'dept' of small (and sometimes very large - ie R Branson - but would accept we are not selling widgets to retailers).

There is little doubt Lag-3 is the next pillar in imuno-oncology and IMM is a leader in its development. However, my concern is all ICIs may be superseded within the next say 5 years by up and coming novel cancer therapies that have curative intent. So. I think Lag-3 treatments should be fast tracked by BP who have the deepest pockets and resources.

IMP 761 - always thought it was our 'jewel in the crown' as it treats the root causes of autoimmune disease as opposed to current treatments which treat the symptoms only. 761 has curative intent which I believe is the future for all diseases in the not too distant future.
It's taking far too long to develop and no reasoning has been forthcoming for delays.

I agree with the comment that one BP entity will take out efti in its entirety- all IP and programs. Simply because if efti is shared across multiple BPs and their drugs no-one has a competitive advantage and therefore by default there is little (financial) advantage (other than their patients of course).
For me it's Merck or BMS (maybe Pfizer - they are cashed up and well behind in the immunotherapy cancer space) who will come in and make an offer soon.

Just my musings and probably well wrong.

Would be comfortable with efti sale at right price and then pile resources into 761.