I echo all of your statements 100%. I, too, am concerned that many are setting themselves up for a disappointment in May. The Data & Safety Monitoring Board also looked at the data in December. In a previous post of mine, I mentioned that Larry Gibson himself is discouraging people from expecting a trial halt in May. The good news is that if the stock does tank a bit in May when the trial is simply continued as opposed to halted, it may be the last really good buying opportunity as Ph2 psoriasis results and partnerships are likely by Q398.
I would refer some of the recent skeptics to my prior posts on IMNR's technology value and pipeline vs. other companies with either approved AIDS drugs or promising AIDS drugs in late Ph3 development. And newcomers to the board seem to have no knowledge of the tremendous committment made by IMNR insiders last time they needed to raise money.
I am as convinced as one can be w/o seeing Ph3 results that Remune will be approved. The Ph2b RA trial is merely a confirmatory dose-ranging trial - results (at least for the dose used in the Ph2 trial) WILL be significant. These are the two primary short/intermediate-term reasons to be long on IMNR.
Why would anyone sell out before Ph3 Remune results are published? As for the price fluctuations, I have lost a lot more money overestimating the intelligence of the (biotech) investment community than by underestimating same. There will (still) be plenty of money to be made in IMNR even after publication of Remune results spurs more conservative investors to come aboard. The bandwagon will get very full indeed in time. At this price, given that - at worst - final Ph3 results come a year from now, IMNR earns my vote as most undervalued biotech over the next 12 months. (Out of the 120 or so biotech stocks that I follow).