Well, while Mozz and a few others were talking up the prospects of a deal last year and I warned them that the most likely outcome was a cap raising - I got that call right didn’t I?
I believe in the drug, but not the guy leading the company. I sold most of my shares in the 50’s, but I still hold a few in a few different names because I think there is a better than even probability there will be another capital raising, and holding a couple of shares in various names gives me an advantage and option of getting more shares if it’s not done on a pro-rata basis.
With the interim readout a long time away, insufficient capital, and no evidence of a potential deal emerging, but instead the groundwork being laid for another capital raising, I think what I’m doing is a good risk based approach.
PAR Price at posting:
31.5¢ Sentiment: None Disclosure: Held
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