Ann: Immutep completes institutional pro-rata offer & placement, page-14

my reason for selling has nothing to do with the NSCLC planned trial; the phase 3 trial could well and truly be positive.

My reason for selling is largely due to the short term price catalyst of the HNSCC trial. I could definitively be wrong with my decision to sell but as part of risk mitigation I can’t ignore the desire to cap raise the same month as trial results are due - especially for an open label trial. There was also no pressing need to raise right now in my opinion, this could’ve been done after the data.

Also this isn’t a Merck “deal” - they are just supplying Keytruda at cost. If this was a licensing deal I’d be reading much more into it.