so they managed to get 80% of what they asked for ($14.4m / $18.0m), could've been much worse considering the retail offer was trading 10-15% lower than the offer price, and the Ukraine/Russia conflict raging on. As noted previously, not getting the full $18m may work out better for shareholders in the long term (less dilution at these levels), as the next cap raise has a good chance of being north of 17 cents with a fair bit of data to be read-out and progress to be made on all other assets.
Now with this out of the way, the business can focus on execution. They know how much cash they have to work with, and whether they decide to be extra frugal and slow down some workstreams or go full steam ahead and do an earlier cap raise next time around ... that's up to management. But one thing is for sure, they already have an asset in the clinic.. and its recruitng cohort 3 as we speak.
CHM Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)