You're entirely right to consider both the pro's and con's of the company's prospects. To do otherwise would be foolish. The risks you've mentioned are valid and shouldn't be dismissed lightly, because IMM is in a high risk/speculative field.
That said, funding for operational and clinical trials is adequate for sufficient time to get through the next tranche of trial results at the very least, and milestone payments could well underpin their cash position further.
I too had concerns and reservations about the consolidation, those concerns haven't materialized.
Product diversification and the product pipeline bolsters my confidence as well.
The risk/reward equation is always tricky, but on the whole upside from here is potentially considerable.
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IMM Price at posting:
29.5¢ Sentiment: None Disclosure: Held
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