Why IMU is a multi multi bagger, page-26140

Spot on.

Not only is IMU over-valued compared to its peers, but with IMU you also have to consider:

- listed 11 years and had never completed a Phase 2 trial (please no one mention HER-Vaxx, the trial was not completed)

- lurch from "BP buys after Phase 2" to "We're going to the FDA with a Phase 2/3 trial that we will run ourselves". They do this after blowing a couple of million on a specialist BP liaison.

- disrespectful, arrogant chairman who's shafted shareholders multiple times

- headed by a very average (failed?) ex-US executive. Leslie joined IMU on less than AU$300K after her US career. Doesn't matter how nice people think she is, the fact is she has not been considered valuable by anyone except Paul (and I suspect the value he sees in her has nothing to do with progressing clinical trials)

- never been able to attract a single institutional investor or fund manager (flipping stock doesn't count)

The reality is that there's nothing to suggest that the IMU management team is capable of getting past Phase 2, and even if it did, with its track record, its very unlikely it would be trusted with the funding required to undertake a Phase 3 trial.

$400m for a meme stock. Its still way over-valued.