Ann: Imugene completes $35M Placement & Launches c.$30M SPP, page-127

With reference to Adam a chart....

In the interests of full disclosure, there was a lead up to the chart you have reproduced with a lofty starting point in the 40s all the way down to where we are today.

In 2019, IMU was 2c.

Sometimes timing is everything. Buying in the single digits and selling at say, 10x or 15x can be spectacularly helpful.

l really do NOT wish to upset buyers at higher prices. I too have bought back in at multiples of the current price, that have seriously trimmed my IMU profits and humbled my hubris.

Nevertheless, IMU is far closer today to succesful treatments than it was 4 years ago and the basis of this CR puts it even closer to a commercial product.

As such, l encourage all holders small and large, not to despair at the last 18 months trading. If it suits your thesis, risk profile and your capital base,
today circa 8c price looks attractive.

For my part, the product development platform now being built can only get stronger with the application of the CR proceeds.

l am a believer, l am a buyer both today and at 8.4c or the 2.5% discount if it comes into play.

We can all tell from the cheap seats that management could have done better at this or that. It may well be true. But creating novel cancer treatments is a little more unpredictable than most business activities and should be assessed accordingly, both advances and set backs.

In life, we all know where we will end up. In business, the outcome is less certain.

lf l am fortunate enough to be here, we can all look back at this pain point in a year or 2 with delight or regret. However, without investment in IP and people, IMU has very little commercial value to look forward to.

Good luck to all investors. I would be substantially less polite to shorters and sellers, if l could be bothered addressing them.

IMU and its team stand for excellence, work and hope, not schadenfreude, loss and misery.

The company sits cap in hand, needing the financial support of those who can and do believe in its mission, yet aware of its financial risks.

GLTASH