JIMHOBecause back in June Imugene without shareholders knowledge...

JIMHO

Because back in June Imugene without shareholders knowledge (except the major insto) raised $20m, the largest biotech CR of the year at 2.7c, to purchase a major competitor & gain a foothold on the US market.

Unfortunately this was not enthusiastically endorsed by the shareholders with only 50% participation rate. So we have quite a big dilution on the market, especially with the lack of a large insto to absorb the new shares. It will take time for Imugene to gain new supporters which will hold for long term, so in the mean time the SP will be dominated by traders.

Things were picking up again around the end of Oct when the SP gradually rose from 2c to 2.3c, but world biotech sector & overall market experienced a significant correction since then, so many would prefer to have more cash than shares for the time being.

Anyway, this should be a good time to top up since it’s confirmed that topline Ph1b results will be out in December which will validate the existing science & justify the CR in June. Also through ESMO Congress in Dec & more scientific presentations, Imugene will hopefully gain more supporters worldwide.