Ann: Immutep Corporate Presentation, page-21

All valid points @theoc
My two bob's worth why IMM is currently 'undervalued' and 'unloved' for so long by 'the market' and retailers :-

"old sins cast dark shadows".....refers to item 1 and 3 below,.

1. Cvac the 'flagship' was hyped (originally by Martin Rogers) but ultimately failed to make the grade and was licensed out to Sydys 2016. No feedback or announcements since licencing deal.

2. Immutep acquired by PRR - (Marc October 2014 for $28 million). Lag-3 relatively unknown checkpoint (and so was PD-1).
Basically a new Start-up biotech - had it not been for Marc none of us would be here to discuss IMM.
Lucy Turnbull, Chair of Prima BioMed, said: "This is the most significant announcement in Prima's history. It is the result of a long and diligent search process led by new Chief Executive Marc Voigt as part of our business development program. It considerably strengthens our position in immuno-oncology, which is forecast to grow to a US$35B industry by 20231.""It significantly expands our clinical development product portfolio to other categories of immunotherapies beyond cancer vaccines, which includes our current lead product CVac™. It also provides us with partnerships with several of the world's largest pharmaceutical companies," she said.

3. AIPAC - P2 - progession free survival data didn't meet statistical benefit. March 2020. (noting OS data was expected late 2020!).
Immutep CEO, Marc Voigt stated: “We are pleased to see a clinical benefit for patients receiving efti in HR-positive metastatic breast carcinoma in multiple patient subgroups. This is just one of the four advanced solid tumor indications targeted in our efti clinical development program. We are pleased to see an efficacy trend and will carefully assess the data for further development of efti given our positive data in patient subgroups. More AIPAC results should become available in the coming months, including immuno-monitoring data and Overall Survival data.”

Personally, I've been invested since 2010 and supported every CR since. Now Lag-3 has been validated by BMS and is on the radar of all BP's, finally I believe SH's are very close to significant financial outcome(s).