IMMer24 May 2013 01:40
IMM is a good company
with decent management and a very handsome portfolio.
There are very few candidates in reckoning targeting Lupus despite the market size.
Currently Lupuzor is unique in where it is.
That it self is worth the current SP, provided the MNCs with failed molecules are open to look outside their boxes.
The Pharma Industry is also very closed, in the sense that they tend to look more internally than externally since the R & D teams are very powerful and most managements just live with them rather than offend / antagonize them.
If you have the likes of GSK just for example, with a failed Lupus candidate, their R & D teams would be presenting a number of variant molecules to the failed one and would oppose tooth and nail from the likes of them acquiring an external candidate molecule.
That would not only cost these R&D teams jobs, but their pride and reputation, self worth as well.
So such a thing is unlikely.
If Lupuzor is successful, IMM would have to look for a major who is not researching / working in Lupus and target them.
Almost all big pharma are working in Lupus, so the choice is not easy.
IMM with a 50 mill facility cannot take Lupuzor too far, without a big pharma tie-up
Here in lies the problem
In Pharma 50 mill is chicken feed. you need billions not millions to bring a drug to market
So you have an indication that has no candidate molecules, but almost all pharma cos have teams working in the area with failed molecules, hurt egos, who are very powerful and will not let new ones in and a senior managent who are unwilling or incapable of upsetting these R & D teams on one hand.
You have a microscopic company with a promising molecule and no takers at the present time with not much of funding
What do you do as an investor in IMM in such a scenario?
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