Great post here.
Even looking at these share rights at assumed VWAP of 2.5c compared to 5c for me the difference is minimal.
Raising capital down at these levels should be kept to an absolute minimum IMO so I'd rather that shares go into directors hands at a later date than spending on wages.
These don't vest until AFTER completion of phase II trials for both IRX211 and IRX616A so IMO the share price should be at multiples from here - I personally will not care that an extra 2-3M shares are issued to management if that happens.
Maybe they sell a few shares at that point to pay tax liabilities and convert some of their 20c options or similar which would be a great outcome as well.
I cant help thinking its a huge vote of confidence that there will be some form of success in these trials - firstly from Clendon Biotech stumping up to $38.5M to get them expedited and now the directors willing to take nothing until completion of Phase II.
I could think of a lot of micro cap companies that would bend over backwards to get a deal like this and like mentioned before surely IRX cant stay under the radar forever.
Well done @Surandy70 for getting a few extra down here today and getting set.
Most of us are probably at a much higher entry I'm sure but I'm still comfortable holding and looking forward to a pivotal year.
Cheers
Disco.
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