Good morning, @mmc4First up - sincere thanks for your very kind...

Good morning, @mmc4

First up - sincere thanks for your very kind words. Like you I am a long term holder of IMU and I have invested an amount which - in terms of my own financial situation - is quite substantial. I have added to that holding when I have had spare cash, but I do take a keen interest in the science and the management of the company.

I have always regarded IMU as a speculative buy because the statistics show that drug development is a very uncertain endeavour and the field of oncology is littered with failed treatments. However I have also always felt that the degree of risk with Imugene is less than the general market believes - and that remains the case (in my personal view).

The Quarterly: I was out and about yesterday and too busy to read it until a few minutes ago. I have also had a very quick skim through HC.

I still don't have much time to comment, but my basic thoughts re similar to those of many who posted yesterday and this morning. In summary:

The Quarterly is a good summary of the current situation for the company, and I think that situation is fine.

Financially they are healthy, now that they have done the deal to get rid of the Mfg plant. On a quick read - they are saving around $49m per year by getting rid of the mfg facility. Cash on hand at the end of the Quarter was about $25m less than 3 months previous - so they were on track to burn through $100m over 12 months. That cash burn will now be about $50m instead - much better. LC has always raised cash when she saw an opportunity - even when it was unpopular - so I don't rule out a CR before the end of this calendar year - but the reduced cash burn certainly reduces the financial pressure.

Also - I remain of the view that IMU may surprise us with a commercial deal for the B-cell portfolio this year. Not saying it's a high probability - but I do think it is a very real possibility. I still have confidence that the B cell platform is viable and will achieve a commercial result, even if we have to wait for the PD1-vaxx trial to progress.

Everything I see about the MAST trial, the OASIS trial and the Azer-Cel trial tells me that all are progressing well and the science still looks good.

This is just a test of patience for anyone who isn't a trader. I realise that some people can't hold indefinitely, because were all have different financial commitments and situations, but I am fortunate that I can afford to hold and I see very serious prospects of Imugene achieving major breakthroughs (across multiple cancer types) for people who desperately need better treatments.

The timelines stated in the Quarterly seem realistic to me, so we should have some extremely interesting data on the effectiveness of Vaxinia, OnCARlytics and Azer-cel progressively through the second half of this calendar year. Nothing is certain, but I do feel that good news is highly likely across all three platforms.

Best wishes

Dave