@hotdogrob
The bottom line is that the very basics of supply and demand are one of the main causes for the lack of share price appreciation. I know it is correlated to the Market Cap and that number does not on the face of it seem to fairly represent what some would see as the true enterprise value of the company.
As a comparison there is another ASX a biotech that has roughly half the SOI that IMU has but at least 50/60percent of that is held by the chairman other directors and major shareholders and it’s not on the market so to speak, so the amount of free stock (tradable)is now down to around a quarter of IMU.
IMU is in many ways more advanced so you would expect that as you get nearer to the finishing line with more trial data so your market cap would increase, but no, it seems to stay the same which in effect equates to it going backwards that is if you believe that the recent data and progression of trial data adds more enterprise value to the company.
Just as a sheer share play the share price of the other company, I speak of will increase substantially against IMU if they both progress at the same development speed and for no other reason than the stock is tightly held.There are obviously other market / industry factors that come into play but purely on the supply and demand side IMU is going to struggle to see a share price that reflects the intrinsic value until either a major stake is taken/ acquired or there is a significant commercial deal announced.
DOYR Just my personal opinion
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