Whatever interest CHM will be paying will be partially offset by the interest they will receive while it sits in the bank. Access to over $13.5 million in the bank is better than just $11 million for a small biotech with promising and potentially valuable assets to develop sooner rather than later. Not only that, consider the optics from the point of view of a prospective partner or suitor. CHM would be seen as having sufficient funds to at least get CHM-2101 into the escalation stage of its Ph 1/2 trial as well as continue the rest of its operations.
The company needs to be financially self-sufficient to avoid presenting as a cheap takeover target. An additional $2.5 million at this moment could be worth the outlay in interest, IMO. While it's self-evident that Hopper doesn't object to compensating his associates in the industry since it is not his own funds... without his associates, CHM could be up sh!t street.
What's more important at this juncture... that our pipeline continues to progress long enough for the SP to rise and get some of the options get exercised... or bumble along from one minimalist CR to another, pacing out patient recruitments as we can afford it? I think maybe it's a necessary evil.
CHM Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)