So the long-awaited Imugene shareholder letter finally...

So the long-awaited Imugene shareholder letter finally dropped…
On May 1st.
Which feels perfect, because if it had landed on April 1st, I would've assumed it was a joke!!!

Let’s recap:

Share price down 90%? Market's fault!!
Burn rate? Science is expensive, don’t you know!!
No licensing deals? Deals take time. Like fine wine… or HotCopper hopium — both best consumed cautiously.

Azer-cel? 4/7 complete responses! (Just don’t ask about the other 3.)
OnCARlytics? Dosed 5 people. Things are happening. Quietly.
HER-Vaxx? Still talking. To someone. Somewhere. Maybe.

Meanwhile, retail holders are being diluted harder than cordial at a kids’ party — colourful, watered-down, and full of empty sugar.

Yes, biotech is risky. Yes, trials take time.
But when the “update” comes a full month after April Fools’, it’s hard not to feel like the joke’s on us.

Still holding. Still hoping.
Still wondering if my patience will outlive the cash runway.

Maybe they’ll turn it all around.
Or maybe we’re just part of a long, slow-motion rug pull.

Trust the science… but don’t forget to watch your wallet.