I think getting the $10 million will be hard work. I really hope it is achieved. As its a drug development bio tech it needs all the cash it can get. I wouldnt be surprised that if there is a oversubscribed situation, all the money is kept and everyone gets what they asked for. The more cash in the bank the better. Particularly as we are trying to progress one drug from the clinic into arms, and another drug into an approval trial.
Over 100 million shares traded today. Thats hige for CHM. All holders have had the opportunity to take advantage of the arbitrage over the past weeks. So most should be averaged closer to where we are now. And have a tax loss to carry forward, and maybe even spare cash if not throwing everything back into the raise.
Opportunity like that doesn't happen often.
The pipeline is exciting and progressing. Its novel and aimed at conditions with unmet needs. Which means all should be eligible for fast tracking if they prove to work.The Market cap no way reflects this pipeline, and is way out of step with some peers on the ASX.
But we still have risk. We still need cool heads, and mustn't get emotionally involved with our investment.
Reread the announcements we have had about how the drugs are going. Look at the people driving the drugs progression and where they have come from.
Lots to like here. And lots of promise for patients that are running out of choices.
CHM Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
(20min delay)