IMM 2.70% 38.0¢ immutep limited

This from last edison report WH..... Valuation: Unchanged at...

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    This from last edison report WH.....

    Valuation: Unchanged at $192m, $9.24 per ADR Our valuation is unchanged at $192m, which is equal to ($9.24 per ADR) on an undiluted basis or $6.37/ADR after accounting for dilution from options, warrants and convertible notes. Guidance is that the cash balance of $12.6m at 31 December will be sufficient to fund operations through Q1 CY18, excluding any milestone payments from partners Novartis and GSK. Milestone revenue (we model ~$7m in FY18) would extend the cash runway.

    These gsk and novartis trials seem to have been going on forever.....
 
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