I am a holder of IMU and currently optimistic for my investment....

I am a holder of IMU and currently optimistic for my investment. I can imagine scenarios that would make the shares fall further in value. Not just poor trial results as col69 suggests, lots of things could go awry. However on balance I think the positive potential is bigger than the downside which is why I bought. Valuing a companies shares when they are developing cancer treatments is full of uncertainty, which is an opportunity for an investor prepared to take risks for extraordinary returns.
Your argument against IMU seems to be on there performance to date, the lack of deals, the historical boom and bust, the low success rate for oncology drugs. My thinking is we are near the tipping point, trial results and subsequent deals. I might be wrong, I should know in the next 6 months I reckon.