Agreed. And now it seems obvious why they raised cash to prove up their negotiation position, and enable Imugene to build further value by taking her-vaxx further prior to any $ deal.
They might have said an Italian designed nz merino wool shiny suit version of, "No, actually we can fund the next P2 trial with your drug, so you can take your low offer off the table and we'll talk once we get those results. How much money do you have anyway?"
Good luck all.
Ann: Clinical Trial Supply Agreement with Merck KGaA and Pfizer, page-109
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