Ann: Bile Tract Cancer Study Opens after MAST High Dose Clearance, page-77

Depends what you're after Fred. If you're as happy to delude yourself as so many of the happy clappers on these boards, choose from:

1. SP manipulation
2. Dumb Aussie investors
3. SP manipulation
4. Useless ASX
5. SP manipulation
6. Failure to understand biotechs
7. SP manipulation
8. High interest rates
9. SP manipulation
10. Unrest in the middle east.
11. SP manipulation
12. Hopper doing us all a favour by allowing us one last purchase at sub-10c before the run to $10.


If you want some logic behind the SP action, choose from some of these:

1. Disappointing efficacy for CF33 to date. Over 30 patients treated, only one complete response.

2. Resigned commencement of very-limited Phase II bile duct trial (some months ago, IMU management indicated that they would hold off on this trial because they anticipated adding other indications to the Phase II expansion). A lack of efficacy has forced IMU to proceed with a trial for a niche indication.

3. A CEO that promised the world in terms of significant advancements to be announced at major cancer conferences, only to repeat an announcement made in early November, multiple times, labeling each "price sensitive" and offering nothing new at a recent major cancer conference.

4. A realisation that with the limited efficacy shown by CF33 to date, the IMUODs will never be exercised and IMU will be forced into its 4th capital raise in a row at a lower price that the one prior (BTW this is a realisation that most sane people had many months ago, but there are still those who are yet to cave).

5. A realisation that after unilaterally changing strategy after the non-commercialisation of its b-cell platform, IMU management is running out of shiny toys to distract attention from their failures.