"........... Sorry but a chair or MD who have confidence don’t need to send such letters..............."
Generally I would agree with you O&E however suggest there are a couple of compelling reasons PH was encouraged to put this letter out. First the bio sector is still in some sort of funk where unless a start-up signs a deal 3 weeks after listing it is most likely priced down (OK make that 4 weeks, but you get my point) Secondly and perhaps more pointedly there has been a whole lot of (non productive) chatter on this forum about PH and his shares to the extend I seem to recall someone even asked is he still involved in the business. As
@mrdingo quipped "Damned if they do and damned if they don't ".
Most here are likely holders of other early stage stocks. Suggest it is worth stepping back for just one moment and objectively looking at the structure of each. How many start-up / early stage or, if you prefer, pre-revenue companies, have structured a Board, Management & Advisory team with the experience and strength displayed at IMU ? How many such enterprises have done so and managed to secure a 2 year run-way well into live trials ?
Then perhaps reflect on the roles within an Organizational Structure such as this. Personally I would be very nervous if every other week we heard directly from the Chair. My view for what it is worth (granted not much) of this letter, is simply (a worthy attempt) to help calm the farm. It supports the notion that management has an ear and eye on the market and noise and understands everyone would like to see a hike in the SP.
If you are still frustrated may I suggest you write the Board a letter asking for a detailed explanation relating to all the failed test results so far - OH that's right - THERE ARE NONE ! Put another way - things are actually still looking good for IMU to be one of the 10% who get to see their product go to market.
Thanks again to all those here who take the time to share info and expertise. hopefully the road ahead will be bathed in sunshine.
(20min delay)