There are lot of Doctors in ASX listed companies, some are excellent, some are good and some are exceptionally disgrace in managing a Pharma. I will leave for readers to decide where IMU management sits - a company that has
never produced a drug/treatment in last six years and projection is there will nothing for next 2 years
have burn >$400M of cash in less than 100 patients,
cost time overruns are exceptionally unacceptable;
exceptionally high salaries, over crowded management without accountability/responsibility that has completely wiped out shareholders confidence
still allocate performance shares in millions without paying a cents for doing nothing;
Do not care attitude on share on issue.
My opinion is that IMU is lifestyle company where management enjoy benefit at the expense of shareholders and most importantly retail holders suffer the most. LC claim to "Believe in Science" is fading and is possibly looking for another round of CR $30-40M, possibly at 1.5C (with again middle finger to retail holders) to support her lifestyle as outside of IMU her professional career is at dead end.
Personally for me if I get my 60-70% principle back, I will out of this crap by this June. Some investments are worth not discussing and IMU is one of them
IMU Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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