This is quite frustrating and external factors does not help at all for any Biotech, particularly when it is still at trail stage, however today's announcement is quite positive as it negates requirement of CR until 2026 and management is quite confident that they will have approval on IND status.
In short term however the shorters are enjoying the show with volatility introduced and they will do everything for a pull back. The external factors, particularly Middle East crisis is not helping share market across the globe and shorters really don't care if IMU will succeed to acquire FDA approval to IMU (IND) drugs, they just enjoy volatility and make quick money, however investors succeed at the end (ofcourse we need IMU to succeed).
Keep your faith, IMU have not revealed any data that indicate its product have any negatives outcomes, Biotech success requires a great deal of patience, energy and time. Once Middle East dust settles, this market will also improve as nothing moves in straight line
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Last
5.9¢ |
Change
0.005(9.26%) |
Mkt cap ! $433.6M | |||
| Open | High | Low | Value | Volume |
| 5.5¢ | 5.9¢ | 5.4¢ | $1.489M | 25.99M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 35252 | 5.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.0¢ | 1753430 | 24 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| IMU (ASX) Chart |