New LC Interview, page-13

That is indeed the situation, Rob. In an interview over a year ago she said she expected interim data on the Her-Vaxx phase 2 trial as soon as the end of 2019. We are now in late July 2020, with no interim results because patients have not "progressed" in their disease. ie - they have not deteriorated sufficiently. She clearly wants to be able to report on the Her-Vaxx trial but "we are not there yet." Really, that is very good news in itself - for the patients in the trial and for the efficacy of Her-Vaxx.

I usually regard Leslie's interviews as "general interest" only. They are always informative, but also very cautious, and they cover known ground. This one is different. It really does come across as a broad hint that the Her-Vaxx trial is going very well. As others here have mentioned, the Her-Vaxx phase 2 trial is an "open label" study - so the researchers know who is receiving Her-Vaxx, and Leslie will have a good idea of what is happening - unlike a double blind study.

Also very pleasing - for me at least - to hear Leslie refer twice to the B-Vaxx trial. B-Vaxx has slipped off the radar for a while. There has been speculation here that B-Vaxx is being downplayed because it isn't going well, but I don't believe that is the case. The B-Vaxx phase 2 has been going longer than the Her-Vaxx phase 2, and it isn't due to complete until the Dec 31 2021. As with Her-Vaxx, it's an open label study, and if the patients had all progressed rapidly with their disease we would have had interim data by now. From Leslie's comments at around 6:51 it sounds like interim data for B-Vaxx will come along eventually - but it's not expected imminently. So for me - that's good news too.

I would say the low profile of B-Vaxx is more because:

1. It's on a longer time frame than Her-Vaxx - with study completion almost 18 months away.

2. It was developed long before Imugene took an interest in it. B-Vaxx is prof Kaumaya's product, at Ohio University. Imugene effectively "bought" B-Vaxx as part of it's licence agreement deal with prof Kaumaya two years ago, but B-Vaxx was already fully developed and in trials by then. So I don't think it is as "front of mind" with Leslie as Her-Vaxx, pd1 Vaxx or CF33, where she has a more active role.

Anyway - I was too busy working yesterday to watch the share price action carefully, but the upbeat tone of the July newsletter certainly pushed things along nicely. Leslie's interview was even more positive - significantly so in my view. Yesterday's close was good to see, but it will look like a bargain basement price soon enough.

I'm inclined to agree with Mr Hopper's Newsletter summation - that our investment "is in good hands."

Happy Tuesday

Cheers

Dave