I hear you mate.The key word in your comment is 'feel'. There is...

I hear you mate.

The key word in your comment is 'feel'. There is no reason why this should 'feel' good. What will feel good, we hope, is what the cash netted from this placement allows the company to do. It is easy for us to wait for announcements on clinical trials like kids at Christmas, and forget that millions of dollars are spent doing the work that brings us closer to approved treatments that can be sold for billions. We usually don't need to focus too much on the spending, and when the market is humming along, we get good terms on the money raised for that end.

Outside the ivory tower of how much potential this terrific company has, is the reality that they are a loss-making small cap in the midst of what is almost certainly a pretty significant global recession. None of that feels good, which is why we like to focus more on the long term viability of Incannex's business model instead of the current market realities. And when market realities slap us in the face, it 'feels' bad. The future of our good feelings, and more importantly our long term financial health, is for Incannex to be able to realise the potential we have bought into. In that sense, we have grounds to feel pretty good right now although I don't expect most people to feel it.