Thank for your response to my post, and for your excellent post. If I could add "WATCH THIS SPACE".
Morgan Stanley, Goldman Sachs & Co., LLC and Cantor acted as joint book-running managers for the CG Oncology IPO offering on the NASDAQ recently, with LifeSci Capital acting as co-manager for the offering. That’s not a bad place to start if I was IMU when it comes to listing on the US Bourse, as I’ve been suggesting they do for years now. I mean look at the valuations, I‘ve written of Replimune and Allogene, not to mention several other pre clinical competitors to Imugene, who are worth multiples of Imugene’s relatively minuscule value on the ASX. Look at the comparisons and contrast them. H.C. Wainwright has set a bullish stance on CG Oncology, initiating the company with a Buy rating and a price target of $75.00. That would value them at a market cap of at close to $7B Billion AUD, close to 10 times the current market cap of Imugene (IMU-ASX).
Okay so CG Oncology have a 75% complete response rate in the 66 patients assessed after 3 to 6 months having taken their Cretostimogene, their investigational, intravesically delivered oncolytic immunotherapy. Whilst yes, bladder cancer is a $3.2 USD billion dollar industry. But Imugene’s Vaxinia exhibited a 75% response positive rate recently in gastrointestinal cancers, albeit in far fewer patients (i.e., with not all responses being complete).
But Vaxinia is in the early stages of a dose escalation trial. There is a way to go obviously. Unlike me others have compared Professor Yuman Fongs potent and parental of the CF33 oncolytic virus to orange juice, suggesting the drugs initial results are less than remarkable. Some have even insinuated Imugene shareholders may be less than impressed, holding a view that commercialisation could be over four years away. Look I vehemently disagree with these views, as you are aware. Imugene’s Vaxinia when dosed at 10 parts to the 8, as it currently is in the ongoing Vaxinia (MAST) Trial, or 10 parts to the 9, is much closer to tackling solid tumours in late stage cancer patients than many on these threads think, in my humble opinion. And that’s an opinion derived from having heard it straight from the horses mouth, in person in Sydney last year. Rest assured, once again IMO, Vaxinia is set to give Cretostimogene, Replimune’s RP2 and all its other highly valued US competitors a run for their money in years to come.
CG Oncology’s young and vibrant CEO Arthur Kuan, is in talks with the FDA to advance cretostimogene grenadenorepvec as a potential new therapy for bladder cancer patients at significant risk of disease recurrence and progression. As noted CG Oncology’s goal is to transform the treatment landscape for patients with bladder cancer, and recent results reinforce their commitment to developing bladder sparing therapeutics to improve patient outcomes and quality of life. But that goal is not too far away from Imugene’s. Whilst it’s worth noting Imugene is already deep in discussions with the FDA to advance Vaxinia in bile duct cancer, an indication in which their oncolytic virus has already produced a complete response in the aforementioned Trial.
I understand how many could reach the conclusion the 11 cent price being paid for IMU is logical. I call it illogical, for those who take the overall oncololytic viral immunotherapy market into consideration, as I have done. I understand how many HC posters believe it is perhaps worth a tenth of the value of competitors such as CG Oncology. I'm just not one of them.
DYOR Seek investment advice as and when required Opinions Only
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