"Some shareholders ask why we're always raising capital and diluting shareholders"
Wtf. Everyone knows why you're raising capital, it's because you're burning cash by the truck load and haven't monetized anything including her-vaxx, the drug that has completed phase 2 and is at the exact stage you've always said you will sell or licence drugs. The problem isn't confusion about why you raise, it's that you have to because you've managed the company terribly.
This whole letter and the whole video presentation were just an enormous gaslight of shareholders.
"We don't know. You're confused. We won't blame external factors but devote 20% of the letter to explaining them."
Lowering costs and headcount? The quarterly showed a doubling of staff costs; the biggest of which are the leaders of the company who are driving our investments into the ground.
GET RID OF THEM.
IMU Price at posting:
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