The risk with CHM is financial, not science nor pipeline.
Even with good news, the share price isn't going to run until the financial side is sorted. There will always be the threat of a CR capping any run.
The greater the holding the greater the red, and at the moment PH has the largest amount of red of any CHM holder. Do you really think he wants that?
CHM is in survival mode until the pipeline gets to a point where data thrusts it into orbit. And I think Bec is giving hints it may finally be coming close to that pivot. Those with their hands on the purse strings to invest in small biotechs aren't normally charities (our $4 million non dilution money aside). They want to give nothing and take everything. With only a couple of quarters cash available CHM isnt in the prime bargaining seat yet.
$3.2 million isn't a large amount of money. But it gives holders a chance to help dilution proof themselves if that option is in the money come Dec.
I have told you many times the high risk of CHM is not for you. Your temperament is not suited to this wild ride.
Hopefully this $3.2 million added to the $4 million will get us to a point where, when the tax refund is added CHM has enough trial data to command a proper deal.
Read the notes from the auditor in the half yearly! It hints at how risky the CHM play is.
CHM Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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