I think the reported urgency to convert is a bit of hyperbole. You can see each Wednesday how many are converted.
They're deep in the money with the main binary risk behind us. With over 3 months to fund conversion. I'd agree with you if they were out of the money and going to expire worthless which they absolutely won't.
Having seen movement and holding reports of both, they seem to have moved into patient, longer term hands who mostly plan to convert and hold.
Plenty of catalysts and news flow over that period as well across galidesivir, ISLA-101 and potential for phase 2b newsflow, further acquisitions (given who the team now backing this is) and or partnerships.
ILA Price at posting:
15.0¢ Sentiment: None Disclosure: Held
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