I think they will get the 2023 R&D rebate of $11.3m, and I think this will be the next announcement. This will carry them to early 2025 for some data release. However, either they like it or not a Capital Raise (CR) will be forthcoming, I cannot see a Big Pharma choosing to license a Ph1 product, they will at least need to get to Ph2 which means 2026 and more funds needed. If you notice the previous 2 quarterlies, language has changed from:
June 2024 Qtr "At the end of the June quarter Imugene has A$93.1 million in cash or equivalents (Excluding R&D tax rebate of ~$11 million expected imminently), providing a runway to support its clinical pipeline and operations into late 2025."
To Sep 2024 Qtr "At the end of the September quarter Imugene has $54.3 million in cash or equivalents (excluding 2023 R&D tax rebate), providing a runway to support its clinical pipeline and operations."
It's a subtle difference but you can see where the "Late 2025" is no longer there, hence they will need capital.
This is only my opinion, please DYOR.
IMU Price at posting:
3.8¢ Sentiment: None Disclosure: Not Held
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