Maybe look at the multiple IP (also HER-Vaxx has completed Ph2 and PD1-Vaxx is about to commence Ph2 clinical trial) and also the current and available fund so you can answer your own question. Also, $100M is a MC of a preclinical company such as ALA with one IP (they are competitor to Azer-Cel which is close to registrational clinical trial after producing excellent data).
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