Jul. 23 at 5:14 PM
$IMRN – The Most Asymmetric Biotech Play in 2025?
Here is, In my view, a realistic, milestone-based value ladder for Immuron (6.7M shares O/S), assuming no Phase III is needed for FDA approval of Travelan:
📆 Trigger-Based Price Targets & Est. Market Cap
Event Est. Price Est. BV
✅ Today (Jul ’25)
$1.70
$11M
- IMM‑986 Preclin (Aug)
$3.20
$21M
- IMM‑529 IND (Aug)
$3.80
$25M
- CHIM + Field Data (Oct)
$5.00
$33M
- IMM‑529 Phase II Start (Q4)
$6.00
$40M
- FDA EOP2 Mtg (Q4)
$6.50
$44M
- ProIBS Launch (Q1 ’26)
$7.50
$50M
- BLA Submission (H1 ’26)
$9.00
$60M
- Travelan FDA Approval (H2 ’26)
$13.00
$87M
- IMM‑986 PRV/QIDP (2026–27)
$17.00
$114M
- Strategic Deal / Takeout
$20.00
$134M
🚀 Every step unlocks major asymmetric upside. Even a base case path should yield 5–10x from here.
Do your DD. Not advice. But this must be the most slept-on microcap in biotech right now.