In the pre-revenue biotech space you need to be across how CRs...

In the pre-revenue biotech space you need to be across how CRs work otherwise you will never get your average price right. This particular raise is the one to get heavily involved in. The reason why I've been scooping up shares prior to ex date below the CR price, I don't know who was selling there but thank you.
The reason why is that you are guaranteed another CR won't happen without a shareholder vote, it's all available on the asx rules 7.1:
ASX Listing Rules Chapter 7 - Changes in capital and new issues https://www.asx.com.au/documents/rules/Chapter07.pdf
In layman's terms can't go over 15% in a 12m period without a vote. It's no coincidence that the ratio was 1:8 in this raise.
I agree with Steini that the progress at IMU is positive for CHM as well. If they take off and CHM stays depressed it's almost a no brainer for them to launch a bid.