Why IMU is a multi multi bagger, page-26120

I take a different view.
With Imugene currently at a MC of 430M, the question is, is this fairly valued on the ASX?
This is a company that has 4 -5 in the pipeline (most at Phase 1) one at Ph 2 Hervaxx.

Just taking three other bios at random;
Bot - Botanix a pipeline of 5 products (3 at Ph1, 1 at ph2, 1 at Ph 3 and FDA approved) Market cap 600M. https://botanixpharma.com/pipeline/
Imm - Immutep = 7 in pipeline (2 at late stage beyond Ph2, most others at ph 1). 550M MC https://www.immutep.com/pipeline/clinical-pipeline.html
DMX Dimerix - 4 in pipeline couple of products in ph2 - 200M MC.
AVA. -arovella - 3 in pipeline in preclinical 150M

Maybe there are better ones to compare, however I think you would be hard pressed to find another Bio on the ASX that has mainly PH1s valued at 400M+, most would be under this market cap.

Perhaps with products at Ph 1, (one at Ph 2 - Hervaxx), 400MC is fairly valued.