Hey ilumi
Well - I do agree with you about the timing. I too would have preferred this to happen when the company was in a stronger position - though maybe the total erosion of value would have ended up greater. I really don't know.
The science - well, biological processes are slow, and the dosing regimes imposed by the FDA for the CF33 suite of trials were very conservative, which has meant the whole process has taken longer.
I do keep thinking of my investment in Lynas - way way back - when it too was smashed to crazy low levels and was one of the most shorted, played with and reviled stock on the ASX. The debate on Hot Copper was seriously toxic. It really came down to whether - and when - they could ever get their rare earth processing plant to work reliably and at the planned rate.
I bought in when it was low, but the interminable wait and the relentless sledging on HC caused me to lose my nerve and I sold out for the slimmest of profits. Just a couple of months later they achieved their production rate and LYC has never looked back. I missed out out on a huge win.
Of course - totally different business and circumstances, and I'm not saying that IMU will be the same story - but science is not actually a roulette wheel, even though it can feel that way.
It sure is a long and winding road though.
Best Wishes mate
Dave
(20min delay)