The market won't be just for those who failed multiple...

The market won't be just for those who failed multiple treatments for DLBCL, it will be replacing these current SoC. And like I told you previously, you need to look at the revenue for the current treatment of DLBCL since the cost for rare cancer is expensive and this is no exception for DLBCL and Cholangiocarcinoma. Don't just look at the patient diagnosis for commercial valuation like @johndprent did and just immediate downramp lol.

The primary and study completion are estimated as mid 2027 and mid 2031 for ALLO so questionable whether they will be more further advanced compared to Azer-Cel when commercialised. Also, more importantly ALLO clinical trial excludes patients who has previously failed only one SoC treatment let alone 4-5 like Azer-Cel (likely why their clinical trial are estimated to take so long???), you don't think this greatly contributed to the mortalities (unfortunately 1 patient for Cohort B) and will provide more commercial viability to replace SoC?????

ALLO has a MC of $465M which is $145M more than IMU, their pipeline looks similar to IMU with their blood cancer IP currently further advanced and solid cancer IP same in Ph1 clinical trial, I'm not sure if their data is as excellent as IMU's in early Ph1 so they also have Fast Track designation and ODD or whether their lab studies demonstrate they can eradicate over 80 cancer tumour and combine with CD19 can eradicate "target-less" cancer tumour with no treatment except for last resort chemotherapy so will open a market to 90% of the solid cancer market. However, IMU has a B Cell platform which is way further advanced than their other IP where HER-Vaxx has completed Ph2 clinical trial with very good final result and PD1-Vaxx schedule to commence Ph2 clinical trial.

PH doesn't care when to do a CR, he will just raise CR when given the opportunity and not when he has to as evident by the surprise CR at 20c a few years ago and now despite not needing the funds right now and with the clinical trial updates expected. Like I said and have explained, he got a good deal for the CR so pull the trigger early.