it won't be a good look if that is undersubscribedInvestment confusion surrounds the Imugene share price subscriptionSometimes you have to call a spade a spade, as difficult as harsh as it may be
@Footmax Asking for money from the public is a bit harder than calling up your mates from Bell Potter and churning some shares to pick up some cheap options down the track. In my objective opinion if the raise is under subscribed the reason could well lay close to the fact that investors don't know exactly what they are buying into. From a lay persons point of view Imugene appears to have failed to clearly demonstrate a commercial pathway forward. Yes the azer cel therapy completes the IMU puzzle, by providing the last piece in the OV/Oncarlytics food chain. Imugene no longer has to reach out to third party Car T providers and give away half the pie every time they treat a solid tumour patient. Yes azer cel is set for a registration trial following on from excellent results pertaining to 84 patients with blood cancer. And yes azure cel stands to earn Imugene a huge chunk of change in the not to distant future.given the quantum of the lymphoma and blood cancer market. But as always Imugene never puts any figures around their acquisitions, pipeline, trials and business in general.
Take Her Vaxx as an example, where do investors stand? Is the company looking for a license deal comparable with Herceptin, or with a hamburger with bacon from the local milk bar? Are they selling the milk bar? You tell me. How is the average punter supposed to value the Imugene pipeline? And what's even happening with it? Where's the Cf33 trial at? How is PD1 Vaxx and Tercentriq being received by the enrolled lung cancer patients? And where are Imugene up to in the Her Vaxx/Keytruda combination trial? Can you honestly tell me? Are they aiming to seek a fast track FDA approval for Vaxinia, or are they still going to be searching for an optimal dose rate and applicable mode of delivery in years to come? Are Imugene an R&D company or a commercial entity?
Shortcomings in communication, marketing, patient outcomes and an absence of patient stories are all intertwined with a lack of clear commercial direction. Financial comparisons with similar drugs are rarely if ever provided to ascertain prospective revenue streams, and whether drugs are to be out licensed, manufactured, sold or placed on the shelf is a mystery. Have we heard from the decision makers driving this capital raise? When was the last time the Chairman Paul Hopper spoke in the media on anything to do with Imugene's commercial direction? Or anything Imugene for that matter? Aside that is from suggesting the SP decline is market driven, and a rather generic company newsletter espousing the virtues and his faith in appointed staff from afar.
Strength of leadership, clear timelines, a specific commercial road map together with clarification of the company's pipeline progress are all required to trash shorters, remove negative sentiment and quash impartiality among investors. A few people (me and I think you included) can visualise the treasure that hides beneath the sea bed, but divining its worth is a somewhat complex task, made all the more difficult by managements failure to calculate, discuss or even attempt to project a prospective value.
What's your car worth? I'm not sure
Are you going to sell it? I don't know yet, it depends on how it drives for the next few months
Have you had any interest? .........................................
What are cars like your worth? I'm not going to tell you
What are your plans then? I'm going to spend some more money doing it up and see what happens then
Do you get the picture?Obviously Imugene's intellectual property is hugely valuable, given the clinical trial results to date and the prospective market segment size, coupled with the safety profile and potential combination affiliations available for each drug. Yet when it comes to valuing it, it's up to you Foootie, cause' management sure isn't going to give you the heads up. They have difficulty communicating where their ongoing trials are up to, let alone whose knocking on your front door to buy the car you may or may not wish to sell.
Should I sell my car on market or off market? Don't ask me, I don't even work for the company..
contrary to popular beliefOpinions only
p.s. The investment public aren't rocket scientists, not even scientists. To the best of my knowledge they can't see behind doors yet either....
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