I love posts like this, because we clearly viewed this through completely different lenses / I might have something(s) to learn here.
i.e. I'll try to itemise your queries / give my thoughts / hopefully you can hone in on the difference of opinions to help me see it from your side a little better.
Where's the loyalty to long term holders?
IMO the loyalty is on display in their doing the most sensible thing for the company and its SP.
i.e. Obtaining and demonstrating strong institutional support to execute a positive, forward-looking plan.
Consider how it'd look, if they did as you suggest (tapping into existing shareholders first)? In my experience, that looks like you couldn't get insto support? Dunno.
Where’s the strategy?
I thought the strategy was pretty concise?
They're raising capital to prepare for p3 NNZ-2591 trials while concurrently pushing on with p2; the aim being to reduce the gap between p2 concluding and p3 commencing.
The other reasons mentioned (risk mitigation, etc) would certainly factor in too, but I think the main reasoning is positive?
Where’s the planning?
My take is that this has been planned quite well.
They've obviously reflected on the gap between Trof p2/p3 and gone not this time! That's something I look for in good forward planning - reflecting on past missteps to ensure they aren't made again.
I can't tell you concretely, but I don't think it was rushed. Rather, I imagine the kick up the behind to put the plan in motion would've been the FDA granting OD for Prader-Willi + the community support from PW families + the positive SP?
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)