saxien had it right.....

the clear reason for IMU's price decline is that:

1. punters have woken to the fact that IMU may not get meaningful results until 2006.

2. IMU declines to comment on its lack of progress in achieving trial results - and will not comment on the OGTR situation. The regulator might give approval, but it's a long way off still.

3. IMU engaged in a lot of hype a few months ago which led investors to believe something was imminent - when it isn't. This was deceptive on the part of IMU and they are getting punished.

4. Thinly traded stock small volume punters, and a nervous market, so small trades have big impact on price.

Overall though, you'd have to say that IMU has been less than open about the current status of its programs. And there's a lot more waiting yet. IMU management in my opinion leave a lot to be desired, and they don't have a great pedigree.

IMU likely to remain in the dog house for the rest of the year...... barring lucky breaks - and just where will they come from?

also, must be close to PP stop loss? I hope they are leaning on IMU more effectively than I can.