This forum is turning delusional comparing CDX to other companies in different sectors, with different funding arrangements, management teams and market conditions.
This is a confidence game. When the market smells strain, the share price will not perform. The recent capital raise highlighted the strain. Blind Freddie can see it and the share price is telling you.
Look at the cashflow statement and the balance sheet. Cash is king and it's as clear as day that they need another capital raise to provide at least a 12 months funding pathway.
Management and Board is playing chicken with the market again. Market knows FDA is pending but price still falling. Why? Because the CEO's reckless build out in fixed costs makes it near impossible to give the market confidence that the company has 12 months of protection. US listing is just another layer of fixed costs.
I like the tech here but am super worried the next capital raising and then the next are going to wipe out investors. There is little evidence of restraint from management which raises the stakes materially.
I can't see why serious capital would commit prior to FDA approval and I can't see this before the next quarterly which is likely to be ugly based on current embedded cash burn. So next quarterly will see everyone watching CEO play chicken with capital markets again. It's getting clearer how that will turn out. And any US investor will be licking their lips at how cheaply they will be getting stock.
Just hope CEO pulls a rabbit out of his hat before the next quarterly but I doubt it.
This is why governance matters.
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