Totally agree@Steini. ... ST financial pain for Huge LT gain. But I also argue if there will be much ST pain at all.
I just re-watched a year-old interview with IMU Chairman, Paul Hopper. Paul is the first to admit that Biotech investing requires VERY PATIENT CAPITAL.
He does not come across to me (and I have met him in person) to be the over-hype, pump & dump type of biotech founder/executive that is common in the industry.
He now has 12% of IMU (valued around $20m as at trading halt). I dont know PH's total net worth, but since I cant find any reference to his net worth from my google searches...I am guessing it is not anywhere near the AFR "Rich List" values, and I presume that his circa $20m IMU holding makes a big chunk of his total net-worth. Please...if anyone has any intell on this...I am happy to be corrected.
With his slicked-back grey hair, PH (to me) resembles Michael Douglas in the first Wall Street movie where he made famous the saying..."Greed is good. Greed works". PH has alot of skin in the IMU game. So his personal greed for IMU's success will be to the benefit of all shareholders.
Just as a reminder, PH took Viralytics from a $4m market capitalised struggling biotech to a $500m takeover target by Merck. I am guessing that he is running the same (but improved) playbook on CF33 with IMU's involvement. Having new institutional investor/s (who were interested in the CF33 OV) buy into IMU at 3.6c, may well be a genius move. This means those new insto investor/s are on the same page as all IMU shareholders and do not have an unfair advantage, eg signing a early stage licensing deal very cheaply for CF33 and taking most of the upside!!
Depending on who came in as the (New?) institution investor on the recently annouced capital raise at 3.6c...this could well be good news for all shareholders. Only less than 24 hours to find out! I would make sure to read the announcement prior to the market open and if I had any, I would cancel any open sell orders and wait patiently on market reaction to stablise. This is not advice...just saying what I would do.
IMU Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
(20min delay)
