Yes the loan contract was for 30 months (about a year ago). But as a banker myself, clearly this loan has some covenants that allow Macquarie to exercise triggers if things are not going their way. Hence why mid loan term Hooper has had to double his loan collateral.
I find it fascinating PH has found himself in this situation. Let's be honest he has plenty of money and is never going to lose his house or shirt. But to wealthy people your reputation is worth so much more in these circles. Australia, the ASX is a very small pond. Failure here will push him into early retirement as a disgrace.
As much as there is a lot of beating on PH on these threads. You do have to feel for the guy on a personal level. (He is very much invested in the success of this company).
Risks are now extreme for IMU, and is why the share price is where it is. By the end of this week we're 28 days post Azercel webinar.
Two more patients were dosed (announced on that webinar). Imugene management if you are reading. If you are sitting on two new complete response outcomes. Now would be a very good time to announce to the market.
Keeping fingers and toes crossed.
DYOR not advice.
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