Overnight Market report, page-1461

100%. Merck has Immutep over a barrel. They know we can’t go anywhere else and we are reaching the end of our capacity. I suspect Merck locked us up with the Keytruda supply agreements. Which is something Imugene learnt from and decided to buy Keytruda off the shelf rather be shafted by Merck.
While interest rates are still climbing spec bio’s will keep deflating. At some point within the next 18 months we will reach crunch point on cash and continuing into a phase3 trial. We will be forced to take whatever deal Merck has come up with, probably just crumbs. Merck holds all the cards.

To me it’s a failure of management not to have created more competitive tension years ago. There are no advanced trials going anywhere with anything other than Keytruda.
What are our management paid to do?
I guess it must be fun drawing down company capital for salary and jet hoping from one industry junket to the next never having to worry about turning profits.

Not happy Jan!