Oct. 9 at 7:59 PM
$IMRN I see Immuron as a mispriced growth biotech first: MC ~
$15M, cash ~
$5.8M (EV ~
$9.2M), no debt.
TTM sales ~
$4.8M ⇒ EV/S ~1.9×, ~65% GM, ~50% YoY growth - strong even without pipeline.
Re-rate on existing Travelan sales alone: if EV/S normalizes to 4–6x on
$4.8M, that’s +110–220% EV upside. Add 30–50% sales growth and the re-rate compounds.
On top of this (near-term catalysts):
• IMM-529 (C. diff) IND filed — 30-day FDA clock running
• Oct: Travelan P2 (DoD/USUHS) topline
• Continued Travelan sales growth
• ProIBS AU/NZ launch in Dec
With clean data and IND clearance, the asymmetry is extreme. (Not financial advice.)
