Why have a CR when we have enough cash?, page-44

Why have a CR when we have enough cash?

Its a fair heading for a thread in the circumstances. We did have a placement in June 2018 which raised $20.1m which provided funding for the expanded clinical programs for up to 3 years. So yes we did have enough cash. Then along came CF33.

IMU could have passed it by. In fact it wasn't intended for Imugene. It would appear that the CEO was tenacious in pursuit of the oncolytic virus technology. At this stage its good to remind ourselves that CF33 is not an early pre-clinical program but poised to enter the clinic in 2020. It should also be noted that taking on an oncolytic virus technology doesn't mean that all the B-cell programmes have become less promising or are being passed over in favour of CF33.

Imugene were in the right place at the right time and seized the moment. It does, however, come at a price. The price in fact is the raising of more cash to run another couple of clinical programs. So is it dilution or opportunity for expanded reward and the hope for a cure.