Risks Clinical risk. Imugene’s clinical staged products could...

Risks

• Clinical risk. Imugene’s clinical staged products could fail to deliver statistically significant results in late-stage clinical trials, substantially reducing the value of Imugene’s product candidates and therefore Roth’s target price.
• Regulatory risk. Even if successful in the clinic, Imugene’s products could fail to be approved by domestic and/or foreign regulatory bodies, which would reduce Imugene’s value and therefore Roth’s target price.
• Financing risk. Imugene will need additional capital to fund its operations, and such financing may not occur, or it could be substantially dilutive to existing investors.
• Competitive risk. For any future approved Imugene products, they may not be well adopted in a competitive marketplace, which would adversely affect Imugene’s value and therefore our target price.
• High stock price volatility. This issue is common among small-cap biotechnology companies with relatively low trading volumes.