Its a preclinical trial result put out by a cash strapped company that has got to be about a month away from attempting what is probably going to be a $3-5m raise at sub 3c. Why would anyone think this is going to rally the share price in this context? Sure its not bad news but pre-clinical is a titanic yawn - get excited in about 2 years when Phase 11a results come out...if MXC hasnt gone bust by then.
The pace of news releases indicates that raise is not to far away: Burnt $2.8m in Dec, had $1m left at that point, raised another $2m in Feb/March, add in ~$4-500k in sales and its now May almost so the bank account is going to look sick come publication of quarterly next Thursday... do the maths...
Ann: Successful Research Results for MGC on Glioblastoma, page-20
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