CEO explanation, page-14

Well obviously the CR wasn't listed on the ASX because the investor community it's full of ASX 200 index huggers and conservatives. The biotech industry is still fledgling in Australia it's not well understood. You get value investors like madamswer who keep on pointing to fully fledged companies like BHP or WOW and going look how much they went up by...look how you're missing out! Well they aren't risk free are they? Not at all! So you pay a colossal amount and then get hammered later? How does that work?

I'd rather invest in MSB and hold, knowing the company is making progress with the science and the deals and is well positioned to take it further through stage 3 clinical trials.

It just so happens that the market got the wobbles over this Nasdaq listing maybe because we weren't well known enough and an outsider and not with an easy sell...but in the fulness of time, it will be of strategic benefit that we did it this way IMO. Over time we can expect a run of positive announcement which will get the attention of more sophisticated investors in the US...left in the ASX the SP would just flounder and be the plaything of Macbank & cronies & shorters. Sure we are getting a hammering but it's early days.

Look at the logical inconsistencies with madamswer's outrage at the supposed generosity of the IPO to underwriters and you get a flavour of how vicious this listing has been. The point is, that it can only be shockingly generous
Madamswer Post #: 16408976
if the SP rises significantly. And it will get a lift when it recovers to ASX parity (Ok that bit is generous and some might say it was set artificially low but that's the price we pay for having a Nasdaq listing. Which very few Australian biotechs get!)
But the point is, are they likely to get rid of all their shares immediately? That can't and won't happen. They might sell some, but surely they will hold to gain maximum advantage, given the pipeline of news that is to come.

Plus Nasdaq? We qualified and were successful. Many proposed listings fail and have to be withdrawn. Simple.