I wrote about buying into the ASX listed biotech company Imugene (IMU) a few weeks ago.
Since buying into this company, the share price quickly went into decline and has since rebounded to my original purchase price.
For this company, and many others in the micro cap space, the share price is very sensitive to news, rumours and announcements.
And IMU hasn’t released much news of late, hence the stagnant share price.
But they did release some news today, which is very exciting. You can read the announcement here if you like.
In short, IMU have completed recruitment for their phase 2 gastric cancer trial. What’s interesting here is:
- the recruitment numbers were reduced due to positive results. An independent body saw it unnecessary to recruit additional patients given these results.
- as the treatment is looking to be very effective and safe for patients. We could very well see some big dollars from a large pharmaceutical company soon(ish).
So while the share price is stagnant for now, we may see some big movements in the coming year. I have no problem at all in continuing to hold this stock. I may even increase my holding while the price is low.
@mazzle