Immutep has been the most disappointing and frustrating stock I...

Immutep has been the most disappointing and frustrating stock I have ever owned (now well over a decade).
So why hold and still buy on the dips? Great question, I often ask myself.
After Prima Biomed and Cvac 'failure' (Cvac was canned anyway), was about to pull the pin until Marc announced a option to buy Immutep and with it comes Frederick and Lag3, a potential third pillar IO checkpoint (after PD-1 and CTLA).

Board approved (endorsed by Lucy T) capital raise and off we go into the LAG-3 adventure.....

Its been a long long road to the point where we are now. Many false dawns. It wasn't long ago that AIPAC P2 was lined up for a small registration trail in USA upon PFS data meeting primary target (which was a 'given' by Marc beforehand). PFS data wasn't good enough and again the SP was hammered. Over a year later PFS in sub-groups and OS was found to be statistically meaningful and clinically validated. However, now the next stage is AIPAC P3 with specific emphasis on sub-groups. Minimum 2 years and $100k per patient x min 250 = $25 million. IMO we need a partner to assist - possibly BMS? Not just a supply agreement but real skin in the game.

Shorter term TACTI-02 data and start of TACTI-03 may be the catalyst to move market cap - IF mature data is compelling.

Whilst Immutep is not a 'one trick pony' it has only one platform based on 'Efti' and therefore there is no fall-back if Efti doesn't meet expectations (BP and market). Not discussing 761 here but disappointed not yet in the clinic.

So. I'm in until the 'end' and believe 2022 will be the year that decides our fate....

Upcoming clinical milestones :-
- Ongoing recruitment and updates from TACTI-003
- Additional data from TACTI-002 (also designated KEYNOTE-798) is expected to be reported in the
first half of calendar year 2022
- First interim results from INSIGHT-003 are expected to be reported in 2022
- Further regulatory interactions and manufacturing scale up to 2,000 L for efti
- Expansion of existing programs (including a planned Phase III trial for efti)
- Updates on IMP761