If they are teaming up with Imugene in a trial setting with the...

If they are teaming up with Imugene in a trial setting with the above UP - being under 50 million MC is a good punt alone.
Imugene is half a billion market cap, ALA is 38 million - so for both their IP and tech and Imugene partnership it seems a good value play

personally I think Imugene is going to be a slow growth investment to enter at half a billion MC (fine if you are in it from much lower levels and def worth the ride) but it’s a lot without much further proof of concept at this stage. Of course than can change but it would need a billion dollar take over at these levels to make it a good investment to double your money. This is purely from an investment standpoint and not about the disease which is a separate thing of course.

There are quite a few good under 50mc biotech plays on the ASX from all the recent carnage presently - just a matter of taking your pick. One thing technology (in a general sense)and a recession or global downturn can’t ruin or destroy is disease.

As a side note those from the Viralytics VLA days I read Merck dropped Cavatak in the end which is disappointing.