Imugene Limited

Imugene Limited (ASX: IMU) with a market cap of $83.03m isa clinical stage-immuno-oncology company that is working in the field of development of range of new and novel immunotherapies which basically work on the immune system of the patients having cancer and then eradicates and removes tumors developed in them. IMU has recently received a tax rebate of $1.85 million from the Australian Government, which will support its commercial and clinical activities and will further help in setting up the milestone period for the company. Expenditure made on research and development activities for the September 2018 quarter was recorded at $1.65m.


IMU Pipeline (Source: Company Reports)

Moderate financials: IMUposted $3.9m net loss, and net assets increased to $15.5m in FY18 as compared to $11.39m in FY17. Cash reserve grew by 62.5% to $7.8m from $4.8m in FY17. Cash outflow from operating activities increased to $4.46m in FY18 from $2.67m in FY17. Debt to equity ratio improved from 0.09 in FY17 to 0.06 in FY18. The group reported cash of $23.8 million at bank as at end of September 2018. However, expansion of many activities will entail capital expenditures.
Completion of Phase 1b trial with Phase 2 trial activities in progress: With the completion of Phase 1b trial and advancement to phase 2, many medical professionals who are seeking treatments for patients suffering from advanced gastric cancer and who have limited set of medical options will benefit to a greater extent. Phase 2 study of HER-Vaxx cancer vaccine for gastric cancer will commence in early 2019.

Technically on a 3-month chart with daily candle interval, the scrip is on downward trend from the month of May and has continued the downside move till the month of October. For the current month of November, the current level of scrip is testing the closing level of the October month. Major indicator like Relative strength index look slightly positive with MACD (moving average convergence and divergence indicator) consolidating in the positive territory.

IMU with its extensive product profile that contains multiple immunotherapy B-cell vaccine that are used for the treatment of variety of cancers is banking on its phase 2 commencement and expecting positive results for year ahead. We have a “Wait and Watch” recommendation on IMU at the current price levels of $0.023.
 
 

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