Personally I don't believe the addition of the strategic investors had anything to do with the increase in share price. The addition of Lynch, Jaap, Borje, Tillett, et al provides so much more value to RAC than the investors today (not to take anything away from them - DW and JE are smart heads and would have followers. I know I've looked into DW's holdings before).. I just believe if the strategic investors were Wombat, Bisi and Aqua the share price would have still reacted the same heights.
I think the true value from today's announcement were these two sentences from Dr Tillett -
"We thank them for their support and are now fully funded to progress the Phase II AML combination clinical trial of bisantrene and other activities. We look forward to reporting progress on our clinical trials and related activities in the months ahead.”
.. It is pretty safe to assume the share price should now climb up to represent true value due to a highly probable successful ph2 trial based on recent and historical results.
Ann: A$3m strategic investment from prominent biotech investors, page-110
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Last
$1.79 |
Change
0.035(2.00%) |
Mkt cap ! $302.7M | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.79 | $1.70 | $916.8K | 527.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $1.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.79 | 9427 | 1 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
$1.75 |
Change
0.035 ( 0.75 %) |
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| Open | High | Low | Volume | ||
| $1.76 | $1.77 | $1.70 | 30396 | ||
| Last updated 15.57pm 07/06/2024 ? | |||||
| RAC (ASX) Chart |