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5.4¢ imugene limited

Ann: Change of Director's Interest Notice - PH, page-153

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AlCp

26,670 Posts.

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24/04/24

12:15

Post #: 73495649
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Originally posted by hargeo ↑

Dingo,
I heard her say that, it was along the lines of “monetising some of our assets”, which she stated within the last couple of weeks. I reckon in hindsight she was referring to the “UP TO $6m in upfront and milestone payments to Imugene from the recent deal with Kincell. A very misleading use of words if that’s the case, as it’s chicken feed in the scheme of things, and a frustratingly ambiguous description anyway, ie how much upfront, how much milestone and how flexible is the “up to”…??
For the record, Imugene paid USD, $8m cash, $13m deferred until Aug 24, and $3m to Chimeric in August last year for the Azercel deal, which included the manufacturing facility.
My main question here is if the Kincell deal relieves Imugene of $32m in staff cost reductions over 3 years, was there no revenue? If it is a net saving of $32m to run the place, what on earth made them think it was affordable to take on this overhead for a non revenue business as recently as August last year???
So many of Hoppers decisions are poor, and seemingly not in the direct interest of shareholders.

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That's the risk IMU has removed whether the manufacturing plant will generate worthwhile revenue (I never thought it would if we are producing other company's drug).

IMU Price at posting: 8.3¢ Sentiment: None Disclosure: Held
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