Sure. Obviously the BOD have a lot of information that we don't.
Perhaps they have information which makes them worried that the upcoming trial results won't be well received by the market. They want to have a large cash balance to keep the company going for another 5 years even if the share price tanks.
Let's hope that isn't their thinking.
I'm trying to stay positive. Just thought I'd throw my views out there as they seem to be reflected by the market at the moment.
Ann: Imugene completes $90 M placement and launches $5 M SPP, page-243
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