Good post Dave. The interviews highlighted the opportunity to target a specific indication in bile duct, but as you are aware provided no new information for long term holders.
When it comes to the market concern still exists on a number of fronts, those being:
1. There has been no new data on the MAST Trial since October 2023. That's a long time considering scans occur every 42 days. Why? The market is obviously asking,
2. All eyes may well be on Oncarlytics, but Oncarlytics is heavily dependant on Vaxinia for efficacy. With no further data proving efficacy in the existing Vaxinia (MAST) Trial the market is effectively saying "we're on hold," alternatively searching for better short term opportunities, and
3. LC and PH have long suggested the fledgling IMU SP is symptomatic of a broader decline in Australian if not international biotechs. But recent months have seen IMU haemorrhage when local stocks such as TLX, NEU, CU6 and ACW (to name a few), have all been in the green, if not flying. The market is effectively now saying, "its not the biotech sector that has a problem, you have a problem."
The primary goal of any board is to deliver capital appreciation and value to their existing holders. Imugene's board has consistently failed to do so, capital raise after capital raise. Despite having innovative and novel technology, therapies exhibiting huge promise pre clinically, and an exceptional safety profile, institutions and fund managers have IMU on hold. Even small rallies are met with large declines. Positive announcements met with increased selling.
Following on from the apparent de-prioritisation of PD1 Vaxx, a vaccine that held massive potential in the eyes of many long term holders of IMU, the executive team at Imugene have failed to make up for lost ground, and are now seen as having only three shots on goal, as opposed to close to twice that number when their B cell arm was in play.
There is no doubt the majority of followers of Imugene (IMU ASX) have the company on their watch list, if not their radar. They're simply not buying it. Until there are some systemic changes within the existing Board at Imugene, or conversely a flood of impressive data on either Vaxinia, Azer Cel or Oncarlytics, further market rejection would appear to be the status quo. Like you I believe in the science and am eagerly waiting the outcome of the ongoing clinical trials for the company's flagship candidates, but then I'm not the market. The market would prefer to take the "wait and see" approach. A stance which makes holding IMU akin to "watching paint dry,", for all those with the fortitude to stay on the register.
Best of luck to all LTH's.
DYOR
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