IMU is a $465mn clinical stage immuno-oncology company developing a range of new treatments that seek to activate the immune system of cancer patients to identify and eradicate tumors. Clearly an exciting prospect for all human kind, but a complicated, costly and uncertain pathway that has weighed on the stock in recent years, tumbling ~90% from its 2021 high. Last month IMU raised capital at 8.4c with the buyers already significantly underwater, excuse the throwaway line but this stock is simply too hard and it reminds us again why investing in Biotech is not for the faint-hearted.
- We see no reason to catch this particular falling knife at this stage.
MM likes what IMU are trying to achieve, but it’s hard to be bullish on this volatile stock
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