NovaQuest provides financing, they are not there to take over companies. I am pretty sure they have pulled their 20million:
From their website:
"The minimum investment by NovaQuest of US$20 million will be received by Pharmaxis within 30 days. Up to an additional US$20 million may, at Pharmaxis’ option, be invested by NovaQuest from 30 January 2014, subject to Pharmaxis meeting certain commercial and regulatory performance criteria."
Their performance has been horrid! I stupidly invested in them like NovaQuest did - they are at least pulling the pin before they blow another 20 million!
That my take on it anyway.
Bad news sorry!
Ann: Trading Halt, page-46
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