Here's a pdf of the coverage:
Imugene Diamond Equities Research Coverage 29 Sep 2022.pdf
My thoughts:
Diamond Equities Research have initiated coverage of Imugene and provide an evaluation of $0.48 per share. That is close to triple the last traded price of $0.185 and is quite impressive, especially when considering they have used rather low probability of success for trials of 35% for HER-Vaxx and 15% for all other phase 1 trials. I find those probabilities to be quite low considering the positive results that have already been released, especially for trials that have proven safety and efficacy in human patients, and are already in phase 2 (HER-Vaxx).
This coverage forms a VERY complete reference for a lot of what Imugene is about. Its 32 pages cover the company workings, all current trials and competitors. But what I found enthralling reading was the level of detail afforded to discussing the various forms of cancers involved and treatment methodologies. I found this coverage to be a great sourced of information that appears to be unbiased. It is well worth the read.
Competitors exist! Treatments already exist for some forms of cancer! But geeze these are expensive—average cost: US$150,000 per year, with ongoing treatment required. e.g. a current Gastric Cancer drug (nivolumab) costs $187kUS per year. Event he cheapest drug Trastuzumab costs $76,500 per year.
These drugs are expensive because they are costly to manufacture. Comparatively, therapeutic cancer vaccines have a lower cost of production and they can be produced in large batches.
Imugene aims to provide a better treatment, at much cheaper cost, and drawing on stimulation of immune memory to not require follow-up treatment. As stated in the coverage:
"
Therapeutic cancer vaccines, on the other hand, provide an attractive alternative solution due to their potential safety, specificity, lower cost of production, improved efficacy, and long-lasting response—perhaps even cures—due to stimulation of immune memory. Cancer vaccines are believed to hold even greater market potential given the apparent advantages over mAbs contingent on successful FDA approvals."
