People repeatedly say we should have waited for Vaxinia results before moving on Azer-cel, but what this completely ignores what was happening inside Precision Bio at the time. Let's face it, if Azer-cel was on Chimeric's radar, then it was on the radar of others.
The board moved quickly to secure it.
Now our onCARlytics play is infinitely more valuable plus we now also have a product that may be our very first in market.
The other option was, as @hotdogrob notes, to use some of the existing cash and raise more cash later - but imho that would be a bad look:
"Hey we're raising some more cash to cover trials we had already raised cash for but that we spent on Azere-cel instead.....oops." You guys would have castigated the board for that as well.
Ann: Notice of Annual General Meeting/Proxy Form, page-228
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