RE: Nice tree shake6 May 2025 14:41
It’s understandable that shareholders want clarity and momentum — but we also need to separate impatience from mismanagement, and speculation from strategy.
First, let’s address the core point: “Where’s the data?” Well, per the March RNS, the data was delivered to interested pharma partners, and crucially, IMM has confirmed discussions had already been underway beforehand. That changes the picture. This isn’t an idle hope for a partner — it’s a process already in motion. If big pharma was genuinely waiting for data, we could now be in the final phases of evaluation. These types of deals are rarely broadcast step-by-step — for legal, commercial, and strategic reasons.
On Tim McCarthy: Criticizing a CEO for not flooding the market with speculative updates is shortsighted. The last thing shareholders should want is a company that hypes every development prematurely. IMM has operated leanly, secured funding without excessive dilution, and restructured partnerships (e.g., with Avion) to reduce unnecessary burn. That’s a cautious, shareholder-conscious approach — not negligence.
Regarding Lupuzor/P140’s path forward: Yes, it’s been a long road — but this is a novel mechanism of action in a highly complex autoimmune space. Drug development isn’t linear, and many successful drugs took over a decade to reach market. P140 has shown promise not just in Lupus, but potentially across other indications. That broader potential is exactly why pharma partners are engaging now — they’re not looking at Lupus in isolation.
On the electric car analogy: Frankly, it’s not apples-to-apples. P140 is not an idea scribbled on a napkin. It’s a clinically validated asset with prior Phase II/III experience and scientific interest from respected institutions like CNRS in France. That matters. IMM isn’t chasing hype — they’re navigating a complex biotech path that has already reached a significant technical milestone.
Yes, IMM is speculative. Yes, it’s not for everyone. But to dismiss it as a clown show ignores the real progress made — and more importantly, the strategic silence may actually signal that something serious is being worked on behind the scenes.
Finally, shareholders have a choice: either hold through this critical window and see what materializes — or exit and revisit when clarity arrives. But to pretend there’s no progress or that Tim has done “nothing” is just not accurate.
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