Ann: IBX Investor Webcast Presentation, page-67

I think you're both right.

Bob was transparent in saying that they'll have enough cash to get through the majority of the first trial if required, but will be looking to do a cap raise at some stage.

IMO it would be silly to wait for the money to deplete, they will work business as usual for the next couple of months and then try to jack the price up with the release of some news, whether that's approvals, early results, partnership I can't say, then cap raise will follow. That's usually how these things go.

Good entry opportunity now IMO, happy to be a holder and sit back and wait