CHM chimeric therapeutics limited

Mate, the EGM isn't really doing much different to most...

  1. 4,663 Posts.
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    Mate, the EGM isn't really doing much different to most biotech AGMs. The finance deal with Lind Global was sorted and approved a couple of years ago. What the EGM is addressing is that due to the share price decline, the number of shares needed for the money exceeds the amount the board can approve alone. So, they need shareholder approval to increase. This is a clause I have seen in many AGM votes for the bio techs I own. Just because the approval is granted doesn't mean that that number becomes the target. It just gives the board flexibility.

    If I remember correctly, you didn't partake in all the CRs so far. So you are really part of the problem. The company has asked retail holders for cash and have ended up short. Its pretty hard to wrangle a good deal finance wise when your own holders wont even support you.
    CHM now has two CarT drugs in the clinic hitting arms. CarT treatment is some of the most costly of cancer treatments. The company needs to know it has access to funding to keep this novel diverse pipeline progressing. Your no vote prevents that.

    The EV value of the CHM pipeline is almost $zero. Whereas IMU has several hundreds of millions EV built into its price. Any merger of the two would be to the great disadvantage of CHM holders.

    I know you are a salesperson. You know how to sell stuff. But asking a finance institution to cough up money to a pre-revenue high-risk drug discovery company isn't easy. Particularly when you want them to pay the equivalent of over the current MC for less than 50% holding. There are plenty of less risky investments they could have used that money for. This kind of risky investment isn't available to most companies in the finance industry due to the high risk.

    Bec is at the conference next week (5th). Lets hope we start to get some news flows through to the end of year.
 
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