Ann: Appendix 4E & 2022 Full Year Statutory Accounts, page-2

Pretty underwhelming really. It does annoy me - under the Chair's letter - blame about the share price being laid solely at the current market conditions. Maybe implementing a better PR strategy might help - actually using PR professionals rather than these useless PR companies? Certainly IMU, PTX, NEU and others have managed to weather the international market conditions pretty well while IMM continues to drift badly.

So it looks like we're heading to Phase 3 NSCLC instead of AIPAC Phase 3. So I guess our only strategy now is being acquired my MSD? How else would it work - if IMM does all the legwork for Keytruda. Could we go through all of that and then expect MSD to pony up to licence Efti?

One one other thing that I found interesting is Novartis' discontinuation of its LAG525 trials. This is the first I've heard of that. You would've thought there would've been an announcement? I guess this is a double-edged sword though. One level it means less royalties. The other is that there is a another big phrama/cancer player now in the market for a LAG-3 product.