Drug DevelopmentThe ability to replicate Phase 2 efficacy in the larger Phase 3 is critical for valuation tied to the success of AL102.
Financial CommitmentsIMNM is responsible for up to $142 million in clinical development and regulatory milestones, as well as up to $50 million for commercial milestones, which signifies financial commitments that could impact cash flow.
Share DilutionThe price target for IMNM has been lowered to $38 from $40, primarily due to the share dilution.