Welcome Craigos. Dont think many would argue against the points you raise however suggest especially in the bio space where gestation is a lot longer and more scientifically time-lined than say IT the market has some other drivers. Once upon a time when I would go into town to see my broker we would discuss timelines and maturity of stocks, he would bring out his various charts and we would make a somewhat educated guess on what other punters were likely to do. Today, computer, on-line broking, instant communications and a host of other variables have changed the game. Space you have entered has a lot of push & pull factors. Easier access by international players can create value distortions through short term trading / shorting etc. There is a healthy degree of self interested ramping etc etc. Point being there is a significant disconnect between the theoretical value curve and the physical trading price. As many long termers will attest , the day to day price is the physiological feel good litmus paper but has little to do with the underlying value proposition of the science as it is developed. Sure there are lots of guide posts to look at but they are not generally reflected short term in the ultimate value. If you are inclined to be a trader then these little fish can be quite sweet however if you are in basically because of the science and the long term gain then either dont follow the daily price and news or learn to smile and maintain focus on the end game. Though we all would like to see such an outcome rarely are there short cuts. The real game is the commercial value proposal of the science at a point a buyer believes it has been sufficiently risk reduced for their purpose. Main things I look at are who is the captain and players in the team, who do they get involved with (including cornerstone and insto investors) and how do they portray the story, where are they on the development curve and will they be more than a one pony race. Is it fair and reasonable to say it is likely their science can ultimately be commercialized (or will it be leapfrogged by other players in the general space. The other factor for me is that interest rates are low so may as well gamble some money on a play that may have serious return and in any case is making a significant contribution to the control of cancer. All in my opinion of course and implore you to DYOR. Look forward to your further posts.
IMM Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
(20min delay)
