I'm down on my holding like many others but this is one of the companies I own a piece of that even if I lose every cent I will still be proud that I have contributed in some small way to the IP of groundbreaking cancer treatment that even if not successfully deployed by this company will hopefully see the light of day through some other venture in the future. It may even turn out to be the most meaningful thing I ever do in life to help humanity!
I get why some people feel like they are potentially throwing good money down the toilet but not participating in a capital raise is self-defeating (especially for a company in this position) and increases the chance the company won't succeed and you will lose what is left of your initial investment. Buying on market even if at a lower price does not contribute a cent to the company.
Share trading is gambling. Either you are in or you're out. If you made the call to roll the dice then you have to be ready to take it on the chin if your punt goes belly up. Critiquing the board on hotcopper is unlikely to change any outcomes. If Hopper shafts us then you can take comfort from the fact we have the option to band together and sue his pants off and change the way the ASX operates forever.
The good thing about investing in Biotechs is you can just tell yourself you are making a charitable donation to cancer research and if that eventually becomes a profit then it's win win! The company has kicked a goal against cancer and your gamble has paid off.
Not giving advice, just explaining my thinking.
(20min delay)