I don't think it is binary - either get Big Pharma or go it alone.
It doesn't preclude an imminent partnership/licensing.
It even says here "The capital raised will be used to fund Imugene’s clinical trial pipeline through to the end of 2025, with partnering and licensing opportunities and R&D rebates expected to extend the cash runway"
Who is to say a partnership won't come along later this year. And with a strong cash position for strong negotiation.
Ann: Imugene completes $90 M placement and launches $5 M SPP, page-32
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