@Hingdog
Averaging up can make sense if the company has progressed since you bought in. Clinical trial progress, better-than-expected results, manufacturing arrangements, capital adequacy to further advance products etc ... are all value added initiatives, so can't really agree with it never making sense to average up.
Recently competitors (albeit slightly further along the commercialisation path) have sold for US$2-4 billion. That's $10-$20 a share in Clarity's case. Its not beyond the realms of possibility that CU6 could be sold in this range during the funding runway to 2026. So averaging up at $2.55 may not be such a bad idea.
I hear your point about just doing a placement as quick and easy, but given that Clarity is going to rights issue path, why not take care of existing shareholders first. At a minimum, I'd like the chance to buy the shares you don't intend subscribing for ...
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