"Is it at all possible that IMU have a bunch of rabbits in the hat ready to pull out if the share price drops to a figure that makes any not yet exercised options unattractive to convert? Genuine question."
As long as the share price is a bit above 2.6c then the imuoa options should get exercised. Some option holders won't have the cash to exercise them of course, so they will look to sell on the asx.
I was more wondering if the sp is being kept up for surprisecapraising4.0. But with $30m in the bank, option money and the R&D rebate due around November, hopefully that won't happen. Trials are expensive, but I think a big pharma or two will be paying for them soon anyway.
Although ptx holders got a shock last month as despite having over $7m in the bank (that's a lot for them) a surprise spp and placement came to take that to over $20m
